Neurocrine Biosciences, Inc. Expected to Post Q1 2024 Earnings of $1.04 Per Share (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIXFree Report) – Investment analysts at William Blair reduced their Q1 2024 earnings estimates for shares of Neurocrine Biosciences in a research report issued to clients and investors on Wednesday, February 7th. William Blair analyst M. Minter now expects that the company will post earnings of $1.04 per share for the quarter, down from their prior estimate of $1.19. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.89 per share. William Blair also issued estimates for Neurocrine Biosciences’ Q2 2024 earnings at $1.14 EPS and Q3 2024 earnings at $1.18 EPS.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The business’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS.

NBIX has been the topic of several other reports. Stifel Nicolaus upped their target price on shares of Neurocrine Biosciences from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. The Goldman Sachs Group upped their target price on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. BMO Capital Markets cut their target price on shares of Neurocrine Biosciences from $111.00 to $100.00 and set a “market perform” rating on the stock in a research note on Friday, November 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, December 12th. They set a “buy” rating and a $136.00 price target for the company. Finally, Mizuho boosted their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $136.69.

Check Out Our Latest Analysis on Neurocrine Biosciences

Neurocrine Biosciences Stock Down 1.4 %

Shares of NBIX opened at $130.43 on Monday. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $143.35. The firm’s 50 day moving average price is $131.30 and its 200 day moving average price is $117.52. The company has a market cap of $12.81 billion, a P/E ratio of 53.90, a PEG ratio of 0.84 and a beta of 0.25.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently made changes to their positions in NBIX. EA Series Trust purchased a new position in Neurocrine Biosciences during the 2nd quarter valued at about $1,604,000. Guggenheim Capital LLC increased its holdings in Neurocrine Biosciences by 5.8% during the 2nd quarter. Guggenheim Capital LLC now owns 44,296 shares of the company’s stock valued at $4,177,000 after acquiring an additional 2,415 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in Neurocrine Biosciences during the 2nd quarter valued at about $1,282,000. Daiwa Securities Group Inc. increased its holdings in Neurocrine Biosciences by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,030 shares of the company’s stock valued at $569,000 after acquiring an additional 264 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $887,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 105,835 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $132.44, for a total transaction of $14,016,787.40. Following the completion of the transaction, the chief executive officer now owns 499,754 shares in the company, valued at approximately $66,187,419.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Kevin Charles Gorman sold 105,835 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $132.44, for a total value of $14,016,787.40. Following the completion of the transaction, the chief executive officer now owns 499,754 shares in the company, valued at approximately $66,187,419.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matt Abernethy sold 1,280 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $142.19, for a total transaction of $182,003.20. Following the completion of the transaction, the chief financial officer now owns 29,434 shares of the company’s stock, valued at approximately $4,185,220.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,989 shares of company stock worth $36,339,235. 4.60% of the stock is owned by insiders.

Neurocrine Biosciences Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Neurocrine Biosciences (NASDAQ:NBIX)

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