First Hawaiian Bank Lowers Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

First Hawaiian Bank lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,163 shares of the company’s stock after selling 105 shares during the quarter. First Hawaiian Bank’s holdings in Neurocrine Biosciences were worth $712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headinvest LLC bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $28,000. Lindbrook Capital LLC grew its stake in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $31,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $33,000. Finally, Sunbelt Securities Inc. boosted its stake in Neurocrine Biosciences by 34.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NBIX shares. Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, June 12th. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $170.00 in a report on Wednesday, April 24th. HC Wainwright upped their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $152.00.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now directly owns 26,504 shares in the company, valued at approximately $3,537,223.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the sale, the director now owns 26,504 shares in the company, valued at approximately $3,537,223.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the transaction, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,697 shares of company stock worth $11,975,615. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Price Performance

NBIX opened at $134.57 on Friday. The company has a 50 day simple moving average of $137.06 and a two-hundred day simple moving average of $135.05. The firm has a market cap of $13.54 billion, a P/E ratio of 37.07 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 1-year low of $93.02 and a 1-year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.62). The firm had revenue of $515.30 million during the quarter, compared to the consensus estimate of $512.21 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.