Neurocrine Biosciences (NASDAQ:NBIX) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a report released on Tuesday morning, Marketbeat reports. The firm issued a hold rating and a $138.00 price objective on the stock.

Several other analysts also recently commented on NBIX. Royal Bank of Canada reduced their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Guggenheim reduced their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.90.

Neurocrine Biosciences Trading Down 1.6 %

Shares of NASDAQ:NBIX opened at $116.85 on Tuesday. The company has a market capitalization of $11.83 billion, a PE ratio of 35.52 and a beta of 0.33. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The firm has a 50 day simple moving average of $138.66 and a 200-day simple moving average of $131.23.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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 return on equity of 13.45% and a net margin of 14.49%. As a group, equities research analysts predict that Neurocrine Biosciences will post 6.53 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the transaction, the director now owns 517,030 shares in the company, valued at approximately $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Neurocrine Biosciences by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after acquiring an additional 122,681 shares during the period. State Street Corp raised its holdings in Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after buying an additional 539,936 shares during the period. Geode Capital Management LLC raised its holdings in Neurocrine Biosciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock valued at $213,773,000 after buying an additional 39,610 shares during the period. Braidwell LP raised its holdings in Neurocrine Biosciences by 20.9% in the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after buying an additional 158,665 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Neurocrine Biosciences by 1.4% in the fourth quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock valued at $118,795,000 after buying an additional 12,040 shares during the period. 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.