Neurocrine Biosciences, Inc. to Post Q2 2024 Earnings of $1.11 Per Share, William Blair Forecasts (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Analysts at William Blair lowered their Q2 2024 EPS estimates for Neurocrine Biosciences in a note issued to investors on Wednesday, May 1st. William Blair analyst M. Minter now anticipates that the company will earn $1.11 per share for the quarter, down from their prior estimate of $1.14. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.78 per share. William Blair also issued estimates for Neurocrine Biosciences’ Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $1.25 EPS, FY2024 earnings at $4.46 EPS, Q1 2025 earnings at $1.33 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $1.80 EPS, Q4 2025 earnings at $2.03 EPS and FY2025 earnings at $6.77 EPS.

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

A number of other research analysts also recently issued reports on NBIX. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Oppenheimer lifted their price target on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Guggenheim boosted their target price on Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Barclays raised their price objective on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Mizuho increased their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Stock Up 0.7 %

NBIX stock opened at $141.71 on Monday. Neurocrine Biosciences has a 52-week low of $89.04 and a 52-week high of $148.37. The business has a fifty day moving average of $137.49 and a two-hundred day moving average of $129.22. The stock has a market cap of $14.26 billion, a price-to-earnings ratio of 39.04 and a beta of 0.28.

Insiders Place Their Bets

In other news, insider David W. Boyer sold 1,328 shares of the company’s 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 directly owns 4,895 shares of the company’s stock, valued at approximately $662,831.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider David W. Boyer sold 1,328 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the transaction, the insider now owns 4,895 shares in the company, valued at $662,831.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Matt Abernethy sold 980 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $134.21, for a total transaction of $131,525.80. Following the completion of the sale, the chief financial officer now owns 30,314 shares in the company, valued at $4,068,441.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,771 shares of company stock worth $24,360,922. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Mather Group LLC. acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter worth about $26,000. Headinvest LLC purchased a new stake in Neurocrine Biosciences in the 3rd quarter worth approximately $28,000. Lindbrook Capital LLC raised its holdings in Neurocrine Biosciences by 85.0% in the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth $31,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.