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

Key Points

• Deutsche Bank AG has reduced its stake in Neurocrine Biosciences by 7.5%, selling 34,848 shares, leaving it with 426,934 shares valued at approximately $47.2 million.
• Brokerages have raised their target prices for Neurocrine Biosciences, with UBS Group setting a new target of $174.00, reflecting growing confidence in the company's prospects.
• Insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences, representing a significant decrease of 76.58% in their position, while also showing continued insider activity in the stock.

Deutsche Bank AG lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 426,934 shares of the company's stock after selling 34,848 shares during the quarter. Deutsche Bank AG owned about 0.43% of Neurocrine Biosciences worth $47,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OneDigital Investment Advisors LLC grew its holdings in Neurocrine Biosciences by 2.1% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after purchasing an additional 87 shares during the period. Utah Retirement Systems grew its holdings in shares of Neurocrine Biosciences by 0.6% during the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after buying an additional 100 shares during the last quarter. DE Burlo Group Inc. grew its holdings in shares of Neurocrine Biosciences by 2.2% during the first quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after buying an additional 100 shares during the last quarter. GeoWealth Management LLC grew its holdings in shares of Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 4.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock valued at $290,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 1.2%

NBIX traded up $1.59 during trading on Friday, hitting $132.90. The company's stock had a trading volume of 558,515 shares, compared to its average volume of 1,076,537. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.87. The firm has a market cap of $13.18 billion, a PE ratio of 39.32, a P/E/G ratio of 0.95 and a beta of 0.25. The business's 50 day simple moving average is $129.21 and its 200-day simple moving average is $119.83.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The business had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. During the same period last year, the firm earned $1.63 earnings per share. The company's quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wedbush increased their price target on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus increased their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, BMO Capital Markets increased their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $160.90.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider directly owned 18,289 shares in the company, valued at approximately $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the transaction, the director owned 514,596 shares in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 196,573 shares of company stock worth $25,112,766. Company insiders own 4.80% 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.