Deutsche Bank AG Raises Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Deutsche Bank AG grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 461,782 shares of the company's stock after acquiring an additional 23,951 shares during the period. Deutsche Bank AG owned about 0.46% of Neurocrine Biosciences worth $63,033,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Caprock Group LLC bought a new stake in Neurocrine Biosciences during the 4th quarter valued at $236,000. Charles Schwab Investment Management Inc. increased its stake in shares of Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after buying an additional 15,266 shares during the period. Oakworth Capital Inc. purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $379,000. Avantax Advisory Services Inc. raised its holdings in shares of Neurocrine Biosciences by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock valued at $395,000 after acquiring an additional 297 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in Neurocrine Biosciences in the fourth quarter worth about $996,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Activity at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 2,558 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total value of $298,927.88. Following the sale, the chief financial officer now directly owns 34,775 shares of the company's stock, valued at $4,063,806.50. This represents a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julie Cooke sold 1,551 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the sale, the insider now owns 19,544 shares in the company, valued at $2,282,348.32. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,953 shares of company stock worth $4,467,990 over the last quarter. Insiders own 4.80% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $120.43 on Tuesday. The company's fifty day moving average price is $106.36 and its 200-day moving average price is $121.93. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The firm has a market capitalization of $11.92 billion, a PE ratio of 36.60, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The firm had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has approved a share repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Piper Sandler restated an "overweight" rating and set a $154.00 target price (down previously from $160.00) on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada boosted their price target on Neurocrine Biosciences from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $162.00.

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.

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