Wedbush Predicts Lower Earnings for Neurocrine Biosciences

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Stock analysts at Wedbush cut their FY2024 earnings estimates for shares of Neurocrine Biosciences in a report released on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the company will post earnings of $3.87 per share for the year, down from their previous forecast of $3.92. Wedbush currently has a “Outperform” rating and a $148.00 target price 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.

Other research analysts also recently issued reports about the company. Barclays lifted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Piper Sandler reissued an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Royal Bank of Canada reduced their target price on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $164.81.

Neurocrine Biosciences Stock Up 0.6 %

Shares of NASDAQ NBIX opened at $147.58 on Friday. The business’s 50 day moving average price is $132.97 and its two-hundred day moving average price is $131.30. The company has a market cap of $14.94 billion, a PE ratio of 39.57 and a beta of 0.33. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98.

Insider Buying and Selling

In related news, CEO Kyle Gano sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. This trade represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,694 shares of company stock worth $9,676,730. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group boosted its holdings in shares of Neurocrine Biosciences by 99.1% during 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. Blue Trust Inc. raised its position in Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at about $61,000. UMB Bank n.a. grew its holdings in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after purchasing an additional 309 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Neurocrine Biosciences during the third quarter worth about $63,000. Institutional investors own 92.59% 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.