NBIX FY2024 EPS Estimate Decreased by Cantor Fitzgerald

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) - Equities researchers at Cantor Fitzgerald lowered their FY2024 earnings per share (EPS) estimates for shares of Neurocrine Biosciences in a research note issued on Thursday, October 31st. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will post earnings per share of $4.15 for the year, down from their previous forecast of $4.30. Cantor Fitzgerald currently has a "Overweight" rating and a $155.00 target price on the stock. The consensus estimate for Neurocrine Biosciences' current full-year earnings is $4.31 per share.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to analysts' expectations of $545.98 million. Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. Neurocrine Biosciences's revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share.

A number of other equities research analysts also recently issued reports on NBIX. Piper Sandler upgraded shares of Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. Citigroup lifted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. BMO Capital Markets lowered their target price 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Neurocrine Biosciences in a research note on Tuesday, October 29th. Finally, Morgan Stanley boosted 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. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $163.91.

Neurocrine Biosciences Stock Down 1.4 %

Shares of NASDAQ NBIX traded down $1.68 during midday trading on Monday, hitting $120.53. The company had a trading volume of 1,018,475 shares, compared to its average volume of 864,494. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 32.31 and a beta of 0.35. Neurocrine Biosciences has a twelve month low of $103.63 and a twelve month high of $157.98. The business has a 50-day simple moving average of $119.13 and a two-hundred day simple moving average of $133.41.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences 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 transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 7,143 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total transaction of $1,072,164.30. Following the transaction, the insider now directly owns 2,507 shares of the company's stock, valued at $376,300.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on 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 sale, the director now directly owns 37,491 shares of the company's stock, valued at $5,499,554.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,336 shares of company stock worth $7,063,652. 4.30% of the stock is owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Neurocrine Biosciences by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company's stock worth $1,574,000 after buying an additional 90 shares during the period. Fifth Third Bancorp boosted its holdings in Neurocrine Biosciences by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 716 shares of the company's stock worth $99,000 after acquiring an additional 92 shares during the period. Total Clarity Wealth Management Inc. grew its position in Neurocrine Biosciences by 4.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company's stock valued at $335,000 after acquiring an additional 100 shares in the last quarter. Caprock Group LLC raised its stake in shares of Neurocrine Biosciences by 7.0% during the second quarter. Caprock Group LLC now owns 1,669 shares of the company's stock valued at $230,000 after purchasing an additional 109 shares during the period. Finally, Red Spruce Capital LLC grew its holdings in Neurocrine Biosciences by 0.8% during the 2nd quarter. Red Spruce Capital LLC now owns 16,150 shares of the company's stock valued at $2,223,000 after purchasing an additional 124 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.