HC Wainwright Weighs in on Neurocrine Biosciences, Inc.’s Q2 2024 Earnings (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at HC Wainwright upped their Q2 2024 earnings per share (EPS) estimates for shares of Neurocrine Biosciences in a report released on Thursday, May 2nd. HC Wainwright analyst A. Fein now expects that the company will post earnings of $1.20 per share for the quarter, up from their prior forecast of $1.15. HC Wainwright currently has a “Buy” rating and a $160.00 target price on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.78 per share. HC Wainwright also issued estimates for Neurocrine Biosciences’ Q3 2024 earnings at $1.51 EPS and Q4 2024 earnings at $1.68 EPS.

A number of other research firms have also weighed in on NBIX. The Goldman Sachs Group lifted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Wednesday, May 1st. Barclays lifted their price target on Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $147.88.

Neurocrine Biosciences Stock Up 0.6 %

NBIX stock opened at $140.71 on Monday. The firm has a market capitalization of $14.16 billion, a PE ratio of 38.76 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 stock has a 50-day simple moving average of $137.37 and a two-hundred day simple moving average of $129.00.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share 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 company had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. During the same quarter last year, the firm posted $0.88 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mather Group LLC. bought a new position in Neurocrine Biosciences in the first quarter valued at about $26,000. Lindbrook Capital LLC lifted its holdings in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after acquiring an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in Neurocrine Biosciences in the fourth quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. bought a new position in Neurocrine Biosciences in the fourth quarter valued at about $33,000. Finally, Headinvest LLC purchased a new stake in Neurocrine Biosciences in the third quarter worth about $28,000. 92.59% of the stock is owned by institutional investors.

Insider Transactions at Neurocrine Biosciences

In other news, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at $5,438,154.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,547 shares of company stock valued at $25,039,887. Insiders own 4.30% of the company’s stock.

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.