Neurocrine Biosciences (NASDAQ:NBIX) Releases Earnings Results, Misses Estimates By $0.62 EPS

Neurocrine Biosciences (NASDAQ:NBIX) announced its earnings results on Thursday. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62), Zacks reports. Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%.

Neurocrine Biosciences Stock Down 18.5 %

NBIX stock traded down $27.89 during midday trading on Friday, hitting $122.62. 6,519,519 shares of the company traded hands, compared to its average volume of 952,604. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of 37.27 and a beta of 0.33. The business has a 50 day simple moving average of $138.89 and a 200-day simple moving average of $131.77.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 222,693 shares of company stock worth $32,718,279. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on NBIX shares. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday. Piper Sandler restated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America reduced their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $167.81.

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.