Deutsche Bank Aktiengesellschaft Initiates Coverage on Neurocrine Biosciences (NASDAQ:NBIX)

Stock analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $138.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 16.15% from the stock’s previous close.

NBIX has been the topic of several other reports. Bank of America reduced their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday. BMO Capital Markets reduced their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. UBS Group boosted their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $118.81 on Tuesday. Neurocrine Biosciences has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The stock has a 50 day moving average price of $138.81 and a two-hundred day moving average price of $131.42. The company has a market capitalization of $12.03 billion, a P/E ratio of 36.11 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. As a group, equities analysts predict that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 623 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the transaction, the insider now directly owns 3,442 shares of the company’s stock, valued at $513,856.18. This represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,693 shares of company stock valued at $32,718,279. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. Cetera Investment Advisers lifted its holdings in shares of Neurocrine Biosciences by 7.9% during the second quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after purchasing an additional 519 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Neurocrine Biosciences in the second quarter valued at about $510,000. CWM LLC lifted its holdings in Neurocrine Biosciences by 15.1% in the third quarter. CWM LLC now owns 7,884 shares of the company’s stock valued at $908,000 after acquiring an additional 1,035 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Neurocrine Biosciences by 29.3% in the third quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock valued at $918,000 after acquiring an additional 1,803 shares during the period. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in Neurocrine Biosciences by 9.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 9,639 shares of the company’s stock valued at $1,111,000 after acquiring an additional 807 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Company Profile

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.