Wedbush Weighs in on Neurocrine Biosciences, Inc.’s Q4 2022 Earnings (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Rating) – Wedbush lifted their Q4 2022 earnings estimates for Neurocrine Biosciences in a note issued to investors on Thursday, April 28th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of $0.64 for the quarter, up from their prior estimate of $0.50. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Neurocrine Biosciences’ Q1 2023 earnings at $0.51 EPS, Q2 2023 earnings at $0.74 EPS, Q3 2023 earnings at $0.93 EPS and Q4 2023 earnings at $1.12 EPS.

Neurocrine Biosciences (NASDAQ:NBIXGet Rating) last posted its quarterly earnings results on Friday, February 11th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.69). Neurocrine Biosciences had a return on equity of 6.89% and a net margin of 7.90%. The business had revenue of $312.00 million for the quarter, compared to analyst estimates of $317.72 million. During the same quarter in the prior year, the firm earned $3.58 EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis.

A number of other research analysts have also commented on the company. Morgan Stanley increased their price objective on Neurocrine Biosciences from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, February 14th. StockNews.com upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Monday, March 28th. Jefferies Financial Group downgraded shares of Neurocrine Biosciences to a “hold” rating and set a $94.00 target price on the stock. in a report on Thursday, March 3rd. Barclays boosted their price target on Neurocrine Biosciences from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Finally, Zacks Investment Research raised Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $111.17.

Shares of Neurocrine Biosciences stock opened at $91.68 on Friday. The firm’s 50-day moving average price is $93.16 and its two-hundred day moving average price is $88.81. Neurocrine Biosciences has a 1-year low of $71.88 and a 1-year high of $108.01. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 100.75, a P/E/G ratio of 4.48 and a beta of 0.71. The company has a current ratio of 3.96, a quick ratio of 3.83 and a debt-to-equity ratio of 0.24.

In related news, Director Gary A. Lyons sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $92.76, for a total transaction of $1,391,400.00. Following the transaction, the director now directly owns 208,697 shares in the company, valued at approximately $19,358,733.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Matt Abernethy sold 3,310 shares of the business’s stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $80.79, for a total value of $267,414.90. The disclosure for this sale can be found here. Insiders have sold 46,743 shares of company stock valued at $4,232,771 in the last three months. 4.30% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its position in shares of Neurocrine Biosciences by 11.9% in the 3rd quarter. Alliancebernstein L.P. now owns 171,250 shares of the company’s stock worth $16,425,000 after buying an additional 18,279 shares during the last quarter. Two Sigma Advisers LP purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at $1,618,000. Russell Investments Group Ltd. raised its holdings in Neurocrine Biosciences by 56.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 34,223 shares of the company’s stock worth $3,278,000 after purchasing an additional 12,369 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of Neurocrine Biosciences by 6.7% in the 3rd quarter. Congress Asset Management Co. MA now owns 1,011,772 shares of the company’s stock worth $97,039,000 after purchasing an additional 63,207 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 677.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 31,754 shares of the company’s stock valued at $2,509,000 after purchasing an additional 27,668 shares in the last quarter. Institutional investors own 95.93% of the company’s stock.

About Neurocrine Biosciences (Get Rating)

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.

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Earnings History and Estimates for Neurocrine Biosciences (NASDAQ:NBIX)

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