Research Analysts Set Expectations for NBIX Q3 Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at Leerink Partnrs decreased their Q3 2024 earnings estimates for shares of Neurocrine Biosciences in a report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn $1.53 per share for the quarter, down from their prior estimate 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.

NBIX has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Morgan Stanley raised their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. BMO Capital Markets decreased their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Barclays dropped their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences Stock Up 0.1 %

Shares of NBIX stock opened at $118.46 on Friday. The company’s fifty day simple moving average is $126.60 and its 200-day simple moving average is $134.98. The firm has a market cap of $11.92 billion, a PE ratio of 32.63 and a beta of 0.36. Neurocrine Biosciences has a 12 month low of $103.63 and a 12 month high of $157.98.

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

Insider Activity

In related news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction dated 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 owns 37,491 shares in the company, valued at approximately $5,499,554.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julie Cooke sold 12,632 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,789,638.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,968 shares of company stock worth $8,999,632 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently modified their holdings of NBIX. Mather Group LLC. purchased a new position in Neurocrine Biosciences in the first quarter worth $26,000. RFP Financial Group LLC raised its stake in shares of Neurocrine Biosciences by 346.5% during the 1st 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 period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter worth about $28,000. Innealta Capital LLC bought a new position in Neurocrine Biosciences during the second quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Neurocrine Biosciences during the first quarter worth about $32,000. 92.59% of the stock is owned by institutional investors.

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.