Hsbc Holdings PLC Has $24.30 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Hsbc Holdings PLC lifted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 169.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,222 shares of the company’s stock after purchasing an additional 115,930 shares during the quarter. Hsbc Holdings PLC owned 0.18% of Neurocrine Biosciences worth $24,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nilsine Partners LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth $1,197,000. Ruffer LLP bought a new stake in Neurocrine Biosciences during the fourth quarter worth about $2,479,000. Nordea Investment Management AB lifted its position in Neurocrine Biosciences by 81.3% during the fourth quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock worth $3,834,000 after purchasing an additional 12,195 shares during the period. SG Americas Securities LLC grew its stake in Neurocrine Biosciences by 785.6% during the fourth quarter. SG Americas Securities LLC now owns 134,530 shares of the company’s stock worth $19,080,000 after buying an additional 119,339 shares in the last quarter. Finally, Robinhood Asset Management LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter worth about $5,715,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Up 3.5%

Shares of NASDAQ NBIX opened at $179.05 on Wednesday. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 0.69 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $181.18. The stock has a 50-day moving average price of $164.65 and a two-hundred day moving average price of $144.28.

Insider Activity at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total transaction of $210,075.00. Following the completion of the transaction, the director directly owned 2,838 shares in the company, valued at $476,954.28. This represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares of the company’s stock, valued at approximately $9,829,328.40. The trade was a 15.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 394,172 shares of company stock worth $62,221,181 in the last ninety days. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NBIX shares. Morgan Stanley boosted their target price on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Wedbush increased their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Leerink Partners lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company boosted their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.05.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.