DekaBank Deutsche Girozentrale Purchases 46,627 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

DekaBank Deutsche Girozentrale grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 67.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,223 shares of the company’s stock after acquiring an additional 46,627 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.12% of Neurocrine Biosciences worth $15,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NBIX. Norges Bank bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $35,731,000. abrdn plc boosted its position in shares of Neurocrine Biosciences by 2,503.0% during the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Neurocrine Biosciences by 18.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock valued at $15,410,000 after purchasing an additional 18,070 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Neurocrine Biosciences by 3.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after purchasing an additional 8,630 shares in the last quarter. Finally, HealthInvest Partners AB purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $1,662,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, insider Julie Cooke sold 900 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Julie Cooke sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total transaction of $135,036.00. Following the sale, the insider now owns 18,202 shares in the company, valued at $2,731,028.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,055,108.85. The disclosure for this sale can be found here. Insiders sold 80,709 shares of company stock valued at $11,009,150 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded down $0.01 on Friday, reaching $153.14. The company’s stock had a trading volume of 799,316 shares, compared to its average volume of 781,810. The stock’s 50-day moving average is $139.82 and its two-hundred day moving average is $138.41. Neurocrine Biosciences, Inc. has a 52-week low of $100.52 and a 52-week high of $157.98. The stock has a market capitalization of $15.41 billion, a P/E ratio of 42.19 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NBIX has been the subject of several recent analyst reports. Barclays boosted their price target on Neurocrine Biosciences from $169.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $169.00 to $173.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group boosted their price target on Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $157.16.

Neurocrine Biosciences 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.