HC Wainwright Weighs in on Neurocrine Biosciences, Inc.’s Q2 2024 Earnings (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at HC Wainwright increased their Q2 2024 earnings estimates for shares of Neurocrine Biosciences in a research report issued on Thursday, May 2nd. HC Wainwright analyst A. Fein now anticipates that the company will post earnings of $1.20 per share for the quarter, up from their prior forecast of $1.15. HC Wainwright has a “Buy” rating and a $160.00 price objective on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.78 per share. HC Wainwright also issued estimates for Neurocrine Biosciences’ Q3 2024 earnings at $1.51 EPS and Q4 2024 earnings at $1.68 EPS.

A number of other equities research analysts have also issued reports on the stock. Mizuho upped their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Citigroup increased their price objective on shares of Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays increased their price objective on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Finally, BMO Capital Markets increased their price objective on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.88.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $140.71 on Monday. The firm has a market cap of $14.16 billion, a PE ratio of 38.76 and a beta of 0.28. The firm’s 50-day simple moving average is $137.37 and its 200-day simple moving average is $129.00. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider David W. Boyer sold 1,328 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the sale, the insider now owns 4,895 shares in the company, valued at approximately $662,831.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider David W. Boyer sold 1,328 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total transaction of $179,824.48. Following the transaction, the insider now owns 4,895 shares in the company, valued at approximately $662,831.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David W. Boyer sold 456 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total transaction of $64,733.76. Following the transaction, the insider now owns 4,894 shares in the company, valued at approximately $694,752.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBIX. Forsta AP Fonden acquired a new position in Neurocrine Biosciences in the 3rd quarter valued at $2,048,000. New York State Teachers Retirement System increased its holdings in shares of Neurocrine Biosciences by 0.8% during the 3rd quarter. New York State Teachers Retirement System now owns 96,989 shares of the company’s stock worth $10,911,000 after purchasing an additional 740 shares during the period. BluePath Capital Management LLC bought a new position in shares of Neurocrine Biosciences during the 3rd quarter worth about $35,000. Mackenzie Financial Corp boosted its position in shares of Neurocrine Biosciences by 3.5% during the 3rd quarter. Mackenzie Financial Corp now owns 95,631 shares of the company’s stock valued at $10,568,000 after acquiring an additional 3,277 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in shares of Neurocrine Biosciences by 2.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 18,233 shares of the company’s stock valued at $2,051,000 after acquiring an additional 511 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.