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

Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences (NASDAQ:NBIX) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued a hold rating and a $138.00 price target on the stock.

Several other equities analysts have also recently issued reports on NBIX. UBS Group raised their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Barclays boosted their target price on shares of 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 boosted their target price on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Five equities research 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 stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Stock Down 1.6 %

Shares of NASDAQ:NBIX opened at $116.85 on Tuesday. Neurocrine Biosciences has a 52-week low of $110.95 and a 52-week high of $157.98. The company has a 50 day moving average of $138.66 and a two-hundred day moving average of $131.23. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 35.52 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results 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 return on equity of 13.45% and a net margin of 14.49%. On average, equities analysts anticipate that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the sale, the director now owns 514,596 shares in the company, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the transaction, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,693 shares of company stock worth $32,718,279. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently made changes to their positions in NBIX. Cetera Investment Advisers grew its stake in shares of Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after buying an additional 519 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Neurocrine Biosciences during the second quarter worth approximately $510,000. CWM LLC boosted its position in Neurocrine Biosciences by 15.1% during the third quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after purchasing an additional 1,035 shares during the period. Exchange Traded Concepts LLC boosted its position in Neurocrine Biosciences by 29.3% during the third quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock worth $918,000 after purchasing an additional 1,803 shares during the period. Finally, Redhawk Wealth Advisors Inc. boosted its position in Neurocrine Biosciences by 9.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 9,639 shares of the company’s stock worth $1,111,000 after purchasing an additional 807 shares during the period. Institutional investors 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.