Q2 2024 EPS Estimates for Neurocrine Biosciences, Inc. Boosted by Analyst (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Analysts at HC Wainwright increased their Q2 2024 earnings per share (EPS) estimates for Neurocrine Biosciences in a research note issued on Thursday, May 2nd. HC Wainwright analyst A. Fein now forecasts that the company will earn $1.20 per share for the quarter, up from their prior estimate of $1.15. HC Wainwright currently has a “Buy” rating and a $160.00 target price on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.78 per share. HC Wainwright also issued estimates for Neurocrine Biosciences’ Q3 2024 earnings at $1.51 EPS and Q4 2024 earnings at $1.68 EPS.

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

Other equities research analysts have also issued reports about the stock. Guggenheim upped their price target on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. BMO Capital Markets upped their price target on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Wells Fargo & Company raised shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Citigroup upped their price target on shares of Neurocrine Biosciences from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $143.19 on Monday. The stock’s fifty day moving average price is $137.63 and its 200 day moving average price is $129.45. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The company has a market cap of $14.41 billion, a price-to-earnings ratio of 39.45 and a beta of 0.28.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,088,965.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at approximately $1,088,965.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David W. Boyer sold 1,328 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 4,895 shares in the company, valued at $662,831.95. The disclosure for this sale can be found here. Insiders have sold 176,771 shares of company stock valued at $24,360,922 in the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in NBIX. Forsta AP Fonden purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at approximately $2,048,000. New York State Teachers Retirement System raised its position in shares of Neurocrine Biosciences by 0.8% during the 3rd quarter. New York State Teachers Retirement System now owns 96,989 shares of the company’s stock valued at $10,911,000 after buying an additional 740 shares during the period. BluePath Capital Management LLC purchased a new stake in Neurocrine Biosciences in the third quarter valued at approximately $35,000. Mackenzie Financial Corp raised its position in Neurocrine Biosciences by 3.5% in the third quarter. Mackenzie Financial Corp now owns 95,631 shares of the company’s stock valued at $10,568,000 after purchasing an additional 3,277 shares during the period. Finally, IFM Investors Pty Ltd raised its position in Neurocrine Biosciences by 2.9% in the third quarter. IFM Investors Pty Ltd now owns 18,233 shares of the company’s stock valued at $2,051,000 after purchasing an additional 511 shares during the period. Hedge funds and other 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.