Deutsche Bank AG Buys Shares of 334,650 Neurocrine Biosciences, Inc. $NBIX

Deutsche Bank AG bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 334,650 shares of the company’s stock, valued at approximately $56,402,000.

Several other large investors have also modified their holdings of NBIX. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. DJE Kapital AG acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $28,000. Basecamp Wealth Advisors LLC lifted its stake in Neurocrine Biosciences by 582.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after buying an additional 204 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $33,000. Finally, Meeder Asset Management Inc. grew its holdings in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $152.93 on Friday. The stock has a market capitalization of $15.55 billion, a P/E ratio of 22.42, a PEG ratio of 0.73 and a beta of 0.39. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12. The company has a 50 day moving average price of $167.29 and a two-hundred day moving average price of $148.85.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same quarter in the prior year, the company posted $1.65 EPS. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. Research analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the sale, the director directly owned 1,588 shares of the company’s stock, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the sale, the insider directly owned 16,225 shares in the company, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 131,524 shares of company stock worth $21,668,924 in the last three months. Company insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NBIX. Cantor Fitzgerald raised their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Guggenheim upped their price objective on Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings lowered Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Morgan Stanley dropped their price objective on Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating for the company in a research report on Thursday, August 13th. Finally, Needham & Company LLC boosted their target price on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $200.86.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.