Leerink Partnrs Issues Negative Estimate for NBIX Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) - Leerink Partnrs reduced their Q3 2024 earnings estimates for shares of Neurocrine Biosciences in a research report issued to clients and investors 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.

Several other research firms have also recently commented on NBIX. Morgan Stanley raised their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, July 12th. HC Wainwright reiterated a "buy" rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Citigroup boosted their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Finally, Piper Sandler upgraded shares of Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $163.91.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded down $0.45 during mid-day trading on Friday, hitting $118.01. The company's stock had a trading volume of 1,006,025 shares, compared to its average volume of 853,061. The company has a market cap of $11.88 billion, a PE ratio of 32.51 and a beta of 0.36. The company's fifty day simple moving average is $126.60 and its 200-day simple moving average is $134.98. Neurocrine Biosciences has a 52 week low of $103.63 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted 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 firm had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company's quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share.

Insider Transactions at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 14,250 shares of the company's 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 in the company, valued at $5,499,554.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Lyons sold 11,570 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the transaction, the director now owns 119,047 shares of the company's stock, valued at $17,908,240.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,968 shares of company stock worth $8,999,632 in the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of NBIX. Vanguard Group Inc. raised its position in shares of Neurocrine Biosciences by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company's stock worth $1,279,433,000 after buying an additional 150,485 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $352,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $66,000. CWM LLC raised its position in shares of Neurocrine Biosciences by 60.7% in the first quarter. CWM LLC now owns 4,664 shares of the company's stock worth $643,000 after buying an additional 1,762 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Neurocrine Biosciences by 36.6% in the first quarter. GAMMA Investing LLC now owns 1,158 shares of the company's stock worth $160,000 after buying an additional 310 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other 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.