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

Stock analysts at Deutsche Bank Aktiengesellschaft initiated 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 suggests a potential upside of 16.15% from the stock’s current price.

A number of other equities analysts have also recently issued reports on NBIX. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday. Canaccord Genuity Group cut their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler reiterated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, Wedbush cut their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday. Five 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Stock Down 3.1 %

Shares of NBIX stock opened at $118.81 on Tuesday. The company has a market cap of $12.03 billion, a price-to-earnings ratio of 36.11 and a beta of 0.33. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The firm has a 50 day moving average of $138.81 and a 200-day moving average of $131.42.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS 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%. Analysts anticipate that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,693 shares of company stock valued at $32,718,279. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $25,000. Brooklyn Investment Group grew its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. Lindbrook Capital LLC lifted its position in 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 buying an additional 130 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $61,000. Hedge funds and other 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.