Wedbush Cuts Earnings Estimates for Neurocrine Biosciences

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at Wedbush cut their FY2024 earnings per share estimates for Neurocrine Biosciences in a report released on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the company will post earnings of $3.87 per share for the year, down from their prior estimate of $3.92. Wedbush has a “Outperform” rating and a $148.00 price objective on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $3.93 per share. Wedbush also issued estimates for Neurocrine Biosciences’ Q4 2024 earnings at $1.58 EPS.

A number of other equities analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 16th. BMO Capital Markets reduced their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a report on Thursday, October 17th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada decreased their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, December 20th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.81.

Neurocrine Biosciences Trading Up 0.6 %

Shares of Neurocrine Biosciences stock opened at $147.58 on Friday. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 39.57 and a beta of 0.33. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98. The firm’s 50-day moving average price is $132.97 and its two-hundred day moving average price is $131.30.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently made changes to their positions in NBIX. Commerce Bank grew its position in Neurocrine Biosciences by 2.6% in the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after purchasing an additional 108 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Neurocrine Biosciences by 2.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock worth $496,000 after buying an additional 113 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Tealwood Asset Management Inc. increased its position in shares of Neurocrine Biosciences by 1.0% in the fourth quarter. Tealwood Asset Management Inc. now owns 11,911 shares of the company’s stock valued at $1,626,000 after acquiring an additional 118 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Neurocrine Biosciences by 42.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the company’s stock worth $72,000 after acquiring an additional 157 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the transaction, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at approximately $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,694 shares of company stock worth $9,676,730. Company insiders own 4.30% 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.