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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Research analysts at Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for Neurocrine Biosciences in a research report issued on Wednesday, May 1st. Wedbush analyst L. Chico now anticipates that the company will earn $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 target 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.

NBIX has been the topic of several other research reports. The Goldman Sachs Group increased their price target 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. 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 note on Wednesday, March 20th. Mizuho upped their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company raised 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 note on Wednesday, April 24th. 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, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $147.88.

Neurocrine Biosciences Stock Up 0.6 %

NBIX stock opened at $140.71 on Monday. The company’s 50-day moving average price is $137.37 and its two-hundred day moving average price is $129.00. The firm has a market cap of $14.16 billion, a P/E ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a 12 month low of $89.04 and a 12 month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter last year, the business earned $0.88 earnings per share. Neurocrine Biosciences’s revenue was up 25.0% on a year-over-year basis.

Insider Transactions at Neurocrine Biosciences

In related news, insider Eric Benevich sold 75,000 shares of the business’s stock in a transaction 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 owns 40,778 shares in the company, valued at $5,683,637.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 200 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $140.00, for a total transaction of $28,000.00. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,050,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the sale, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,683,637.64. The disclosure for this sale can be found here. Insiders sold a total of 181,547 shares of company stock worth $25,039,887 over the last three months. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NBIX. FCF Advisors LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $1,157,000. abrdn plc grew its stake in Neurocrine Biosciences by 2,503.0% in the fourth quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after acquiring an additional 80,420 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $1,245,000. HealthInvest Partners AB bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $1,662,000. Finally, Roman Butler Fullerton & Co. acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $1,256,000. 92.59% of the stock is owned by 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.