Neurocrine Biosciences, Inc. to Post Q2 2024 Earnings of $1.18 Per Share, Wedbush Forecasts (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities researchers at Wedbush lowered their Q2 2024 earnings estimates for Neurocrine Biosciences in a report issued on Wednesday, May 1st. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of $1.18 for the quarter, down from their prior forecast of $1.25. Wedbush currently has a “Outperform” rating and a $147.00 price target on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.78 per share. Wedbush also issued estimates for Neurocrine Biosciences’ FY2025 earnings at $6.19 EPS, FY2026 earnings at $9.79 EPS and FY2028 earnings at $14.28 EPS.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. Citigroup increased their price objective on Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday. The Goldman Sachs Group lifted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays increased their price target on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Oppenheimer upped their price objective on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.88.

Neurocrine Biosciences Stock Up 0.7 %

Shares of NASDAQ NBIX opened at $141.71 on Monday. The business has a fifty day simple moving average of $137.49 and a 200-day simple moving average of $129.22. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 39.04 and a beta of 0.28. Neurocrine Biosciences has a 12 month low of $89.04 and a 12 month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the sale, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,088,965.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David W. Boyer sold 1,328 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total transaction of $179,824.48. Following the completion of the sale, the insider now owns 4,895 shares in the company, valued at approximately $662,831.95. The disclosure for this sale can be found here. Insiders sold a total of 176,771 shares of company stock valued at $24,360,922 in the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. First Horizon Advisors Inc. grew its position in Neurocrine Biosciences by 10.5% during the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after buying an additional 74 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Neurocrine Biosciences by 3.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after purchasing an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after purchasing an additional 78 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after purchasing an additional 83 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Neurocrine Biosciences by 0.6% in the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

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.