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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities researchers at William Blair reduced their Q2 2024 EPS estimates for shares of Neurocrine Biosciences in a research note issued on Wednesday, May 1st. William Blair analyst M. Minter now forecasts that the company will post earnings of $1.11 per share for the quarter, down from their previous forecast 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.

Several other analysts also recently weighed in on the stock. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Mizuho raised their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Oppenheimer raised their price target on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group increased their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.88.

Neurocrine Biosciences Stock Up 1.0 %

NBIX stock opened at $143.19 on Monday. The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 39.45 and a beta of 0.28. Neurocrine Biosciences has a fifty-two week low of $89.04 and a fifty-two week high of $148.37. The business has a 50 day moving average price of $137.63 and a 200 day moving average price of $129.45.

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

Insider Buying and Selling

In related news, CEO Kevin Charles Gorman sold 2,274 shares of the firm’s stock in a transaction dated 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 $68,008,952.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kevin Charles Gorman sold 2,274 shares of the company’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider David W. Boyer sold 1,328 shares of Neurocrine Biosciences 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 transaction, the insider now directly owns 4,895 shares of the company’s stock, valued at $662,831.95. The disclosure for this sale can be found here. Insiders have sold 176,771 shares of company stock valued at $24,360,922 over the last quarter. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently added to or reduced their stakes in NBIX. First Horizon Advisors Inc. boosted its stake in shares of Neurocrine Biosciences by 10.5% during the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after acquiring an additional 74 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Neurocrine Biosciences by 3.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after purchasing an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Neurocrine Biosciences by 3.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after buying an additional 78 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after buying an additional 83 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Neurocrine Biosciences by 0.6% in the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after buying an additional 84 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.