William Blair Analysts Decrease Earnings Estimates for Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at William Blair dropped their Q2 2024 earnings per share estimates for shares of Neurocrine Biosciences in a research report issued to clients and investors 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 prior 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.

NBIX has been the topic of several other research reports. Oppenheimer lifted their price objective on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays upped 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. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.88.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $140.71 on Monday. The business’s fifty day moving average is $137.37 and its 200-day moving average is $129.00. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences has a one year low of $89.04 and a one year 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. The business had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. Neurocrine Biosciences’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mediolanum International Funds Ltd purchased a new position in Neurocrine Biosciences in the 1st quarter worth approximately $1,351,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Neurocrine Biosciences by 33.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,937 shares of the company’s stock valued at $681,000 after purchasing an additional 1,235 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at $891,000. Daiwa Securities Group Inc. boosted its stake in shares of Neurocrine Biosciences by 32.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock valued at $1,185,000 after purchasing an additional 2,109 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at $99,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other news, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the transaction, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,088,965.42. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the transaction, the director now directly owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. 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 ninety days. 4.30% of the stock is owned by corporate insiders.

About Neurocrine Biosciences

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.