Leerink Partnrs Issues Pessimistic Outlook for NBIX Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at Leerink Partnrs decreased their Q3 2024 earnings per share (EPS) estimates for shares of Neurocrine Biosciences in a report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now expects that the company will earn $1.53 per share for the quarter, down from their prior forecast of $1.76. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.19 per share. Leerink Partnrs also issued estimates for Neurocrine Biosciences’ FY2024 earnings at $4.55 EPS.

Other equities analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a report on Monday, September 16th. Morgan Stanley upped their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Oppenheimer raised their target price on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Robert W. Baird upped their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $163.91.

Neurocrine Biosciences Trading Up 0.1 %

NASDAQ NBIX opened at $118.46 on Friday. Neurocrine Biosciences has a 1-year low of $103.63 and a 1-year high of $157.98. The firm’s fifty day simple moving average is $126.60 and its 200-day simple moving average is $134.98. The company has a market capitalization of $11.92 billion, a PE ratio of 32.63 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share.

Insider Activity

In other news, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,741,180.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Abernethy sold 14,100 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the completion of the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,741,180.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,968 shares of company stock worth $8,999,632. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RFP Financial Group LLC grew its holdings in shares of Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Mather Group LLC. acquired a new position in Neurocrine Biosciences during the 1st quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in Neurocrine Biosciences during the 2nd quarter worth about $28,000. Innealta Capital LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Neurocrine Biosciences during the first quarter worth approximately $32,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.