Wedbush Research Analysts Decrease Earnings Estimates for Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at Wedbush cut their Q2 2024 earnings estimates for shares of Neurocrine Biosciences in a research report issued on Wednesday, May 1st. Wedbush analyst L. Chico now anticipates that the company will post earnings of $1.18 per share for the quarter, down from their prior forecast 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 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.

Several other research firms also recently weighed in on NBIX. The Goldman Sachs Group boosted their target price on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. HC Wainwright boosted their target price on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company raised shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, April 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.88.

Neurocrine Biosciences Stock Performance

NBIX opened at $140.71 on Monday. The company has a 50-day moving average of $137.37 and a 200-day moving average of $129.00. The company has a market capitalization of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $148.37.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Eric Benevich sold 75,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the sale, the insider now owns 40,778 shares in the company, valued at $5,683,637.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,547 shares of company stock valued at $25,039,887. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in the stock. Mediolanum International Funds Ltd purchased a new position in Neurocrine Biosciences during the first quarter valued at approximately $1,351,000. BI Asset Management Fondsmaeglerselskab A S boosted 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 valued at $681,000 after buying an additional 1,235 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Neurocrine Biosciences during the 1st quarter valued at $891,000. Daiwa Securities Group Inc. increased its stake in shares of Neurocrine Biosciences by 32.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock worth $1,185,000 after acquiring an additional 2,109 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Neurocrine Biosciences in the first quarter worth $99,000. 92.59% of the stock is owned by hedge funds and other 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.