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

Equities research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “hold” rating and a $138.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 17.77% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Guggenheim reduced their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday. Wedbush dropped their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Bank of America cut their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Monday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $166.90.

Neurocrine Biosciences Price Performance

NBIX stock opened at $117.18 on Tuesday. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of 35.62 and a beta of 0.33. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98. The firm has a fifty day moving average price of $138.49 and a two-hundred day moving average price of $131.02.

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 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, analysts expect that Neurocrine Biosciences will post 6.53 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $37,563.20. Following the completion of the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,647 shares of company stock worth $33,186,271. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in Neurocrine Biosciences by 7.9% during the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after purchasing an additional 519 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter valued at $510,000. CWM LLC lifted its stake in Neurocrine Biosciences by 15.1% in the 3rd quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after acquiring an additional 1,035 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Neurocrine Biosciences by 29.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock worth $918,000 after acquiring an additional 1,803 shares during the period. Finally, Redhawk Wealth Advisors Inc. grew its stake in Neurocrine Biosciences by 9.1% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.