William Blair Comments on Neurocrine Biosciences, Inc.’s Q2 2024 Earnings (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Analysts at William Blair lowered their Q2 2024 EPS estimates for Neurocrine Biosciences in a report released on Wednesday, May 1st. William Blair analyst M. Minter now expects that the company will post earnings of $1.11 per share for the quarter, down from their previous estimate of $1.14. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.78 per share. William Blair also issued estimates for Neurocrine Biosciences’ Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $1.25 EPS, FY2024 earnings at $4.46 EPS, Q1 2025 earnings at $1.33 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $1.80 EPS, Q4 2025 earnings at $2.03 EPS and FY2025 earnings at $6.77 EPS.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Citigroup upped their target price on shares of Neurocrine Biosciences from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Wedbush reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $147.88.

Neurocrine Biosciences Trading Up 0.7 %

NBIX stock opened at $141.71 on Monday. Neurocrine Biosciences has a one year low of $89.04 and a one year high of $148.37. The firm has a 50-day moving average of $137.49 and a two-hundred day moving average of $129.22. The firm has a market capitalization of $14.26 billion, a PE ratio of 39.04 and a beta of 0.28.

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

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors have recently bought and sold shares of NBIX. Mather Group LLC. acquired a new position in Neurocrine Biosciences in the 1st quarter valued at about $26,000. Headinvest LLC purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at about $28,000. Lindbrook Capital LLC grew its holdings in Neurocrine Biosciences by 85.0% during the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Neurocrine Biosciences in the fourth quarter valued at $31,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Eric Benevich sold 75,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the sale, the insider now directly owns 40,778 shares in the company, valued at $5,683,637.64. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Eric Benevich sold 75,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David W. Boyer sold 1,328 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value 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 sold 176,771 shares of company stock valued at $24,360,922 in the last ninety days. Insiders own 4.30% 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.