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

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set a “hold” rating and a $138.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 17.77% from the stock’s current price.

Other research analysts also recently issued reports about the company. Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Barclays upped their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Morgan Stanley increased their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. BMO Capital Markets lowered their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Finally, UBS Group increased their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Trading Up 0.3 %

Shares of NBIX stock opened at $117.18 on Tuesday. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 35.62 and a beta of 0.33. The firm has a 50-day moving average price of $138.49 and a 200 day moving average price of $131.02. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Activity

In related news, CEO Kyle Gano sold 980 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $118.39, for a total transaction of $116,022.20. Following the completion of the sale, the chief executive officer now directly owns 137,658 shares of the company’s stock, valued at approximately $16,297,330.62. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matt Abernethy sold 1,283 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the transaction, the chief financial officer now owns 32,681 shares in the company, valued at $4,995,944.47. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 226,647 shares of company stock worth $33,186,271. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Huntington National Bank boosted its stake in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Brooklyn Investment Group boosted its stake in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. Blue Trust Inc. grew its holdings in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after acquiring an additional 220 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.