Q2 2024 EPS Estimates for Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Decreased by Analyst

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Stock analysts at Wedbush dropped their Q2 2024 earnings per share estimates for shares of Neurocrine Biosciences in a research note issued on Wednesday, May 1st. Wedbush analyst L. Chico now forecasts that the company will post earnings of $1.18 per share for the quarter, down from their previous estimate of $1.25. Wedbush has a “Outperform” rating and a $147.00 price objective on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.78 per share. Wedbush also issued estimates for Neurocrine Biosciences’ FY2025 earnings at $6.19 EPS, FY2026 earnings at $9.79 EPS and FY2028 earnings at $14.28 EPS.

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

A number of other analysts also recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Wells Fargo & Company upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $140.00 to $170.00 in a report on Wednesday, April 24th. HC Wainwright lifted their price objective on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Oppenheimer boosted their target price on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Stock Up 0.7 %

NBIX opened at $141.71 on Monday. The stock has a market cap of $14.26 billion, a PE ratio of 39.04 and a beta of 0.28. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37. The company has a fifty day moving average of $137.49 and a 200-day moving average of $129.22.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kevin Charles Gorman sold 2,274 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $134.15, for a total value of $305,057.10. Following the completion of the sale, the chief executive officer now owns 506,962 shares in the company, valued at approximately $68,008,952.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Matt Abernethy sold 980 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $134.21, for a total transaction of $131,525.80. Following the sale, the chief financial officer now directly owns 30,314 shares in the company, valued at $4,068,441.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Charles Gorman sold 2,274 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $134.15, for a total value of $305,057.10. Following the completion of the transaction, the chief executive officer now directly owns 506,962 shares in the company, valued at approximately $68,008,952.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 176,771 shares of company stock worth $24,360,922. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. Grandfield & Dodd LLC increased its holdings in Neurocrine Biosciences by 1.3% during the first quarter. Grandfield & Dodd LLC now owns 15,594 shares of the company’s stock worth $2,151,000 after buying an additional 203 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Neurocrine Biosciences by 2.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 87,087 shares of the company’s stock valued at $12,011,000 after acquiring an additional 2,211 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Neurocrine Biosciences during the 1st quarter valued at approximately $1,351,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Neurocrine Biosciences by 33.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,937 shares of the company’s stock worth $681,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Neurocrine Biosciences in the 1st quarter worth approximately $891,000. 92.59% of the stock is currently owned by 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.