Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) – Research analysts at Cantor Fitzgerald issued their FY2023 earnings per share estimates for shares of Neurocrine Biosciences in a report issued on Monday, June 6th. Cantor Fitzgerald analyst C. Duncan forecasts that the company will post earnings per share of $2.48 for the year.
A number of other brokerages have also recently issued reports on NBIX. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Thursday, April 28th. StockNews.com upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Monday, March 28th. Morgan Stanley raised their price objective on shares of Neurocrine Biosciences from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, February 14th. Zacks Investment Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, Piper Sandler cut shares of Neurocrine Biosciences from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $114.00 to $94.00 in a research report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Hold” and an average price target of $112.13.
Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.19). Neurocrine Biosciences had a net margin of 5.91% and a return on equity of 5.30%. The company had revenue of $310.60 million during the quarter, compared to the consensus estimate of $304.07 million. During the same period last year, the company earned $0.33 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 31.3% on a year-over-year basis.
In related news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $76.30, for a total transaction of $1,144,500.00. Following the transaction, the director now directly owns 29,512 shares in the company, valued at $2,251,765.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Darin Lippoldt sold 8,455 shares of the business’s stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $95.05, for a total transaction of $803,647.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,483 shares of company stock worth $4,386,457. 4.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. boosted its position in Neurocrine Biosciences by 102.8% during the fourth quarter. Whittier Trust Co. now owns 290 shares of the company’s stock worth $25,000 after purchasing an additional 147 shares during the period. Cubist Systematic Strategies LLC boosted its position in Neurocrine Biosciences by 0.7% during the third quarter. Cubist Systematic Strategies LLC now owns 22,275 shares of the company’s stock worth $2,136,000 after purchasing an additional 159 shares during the period. Parallel Advisors LLC boosted its position in Neurocrine Biosciences by 37.7% during the first quarter. Parallel Advisors LLC now owns 639 shares of the company’s stock worth $59,000 after purchasing an additional 175 shares during the period. Commonwealth Equity Services LLC boosted its position in Neurocrine Biosciences by 1.0% during the first quarter. Commonwealth Equity Services LLC now owns 18,645 shares of the company’s stock worth $1,748,000 after purchasing an additional 182 shares during the period. Finally, Private Capital Group LLC boosted its position in Neurocrine Biosciences by 57.9% during the first quarter. Private Capital Group LLC now owns 701 shares of the company’s stock worth $66,000 after purchasing an additional 257 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.
About Neurocrine Biosciences (Get Rating)
Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.
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