Leerink Partnrs Has Pessimistic View of NBIX FY2024 Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) - Stock analysts at Leerink Partnrs lowered their FY2024 earnings per share estimates for shares of Neurocrine Biosciences in a research note issued to investors on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings per share of $4.00 for the year, down from their prior forecast of $4.05. The consensus estimate for Neurocrine Biosciences' current full-year earnings is $3.93 per share. Leerink Partnrs also issued estimates for Neurocrine Biosciences' Q4 2024 earnings at $1.71 EPS, Q2 2025 earnings at $1.52 EPS, Q3 2025 earnings at $1.76 EPS, Q4 2025 earnings at $1.85 EPS, FY2025 earnings at $6.05 EPS, FY2026 earnings at $8.50 EPS, FY2027 earnings at $11.05 EPS and FY2028 earnings at $13.40 EPS.

Other analysts have also issued reports about the company. StockNews.com lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. HC Wainwright reaffirmed a "buy" rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Piper Sandler reaffirmed an "overweight" rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Finally, UBS Group upped their target price on Neurocrine Biosciences from $142.00 to $162.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $165.40.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded up $2.51 on Thursday, reaching $153.19. 618,837 shares of the stock were exchanged, compared to its average volume of 953,962. The firm has a market cap of $15.51 billion, a PE ratio of 41.07 and a beta of 0.33. The firm's 50 day moving average is $135.88 and its 200-day moving average is $131.44. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 146,105 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the transaction, the director now directly owns 514,596 shares of the company's stock, valued at approximately $76,911,518.16. This trade represents a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the 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 sale, the insider now owns 2,507 shares of the company's stock, valued at $338,445. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 214,799 shares of company stock worth $31,513,583. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company's stock valued at $593,186,000 after buying an additional 539,936 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company's stock valued at $213,773,000 after acquiring an additional 39,610 shares during the last quarter. Braidwell LP boosted its holdings in shares of Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company's stock worth $105,734,000 after purchasing an additional 158,665 shares during the period. Jennison Associates LLC boosted its holdings in shares of Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock worth $112,025,000 after purchasing an additional 485,894 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Neurocrine Biosciences by 4.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 819,968 shares of the company's stock worth $94,478,000 after purchasing an additional 37,098 shares during the last quarter. Institutional investors own 92.59% 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.