Equities Analysts Set Expectations for NBIX Q3 Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at Leerink Partnrs decreased their Q3 2024 earnings estimates for shares of Neurocrine Biosciences in a research note issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings per share of $1.53 for the quarter, down from their prior forecast of $1.76. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.19 per share. Leerink Partnrs also issued estimates for Neurocrine Biosciences’ FY2024 earnings at $4.55 EPS.

Other research analysts also recently issued reports about the stock. Oppenheimer boosted their price objective on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Guggenheim increased their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Finally, HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.91.

Neurocrine Biosciences Stock Performance

NBIX opened at $118.01 on Friday. The stock’s 50 day moving average price is $126.01 and its 200-day moving average price is $134.82. Neurocrine Biosciences has a 52-week low of $103.63 and a 52-week high of $157.98. The stock has a market capitalization of $11.88 billion, a PE ratio of 32.51 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NBIX. Raymond James & Associates increased its stake in shares of Neurocrine Biosciences by 4.3% in the 3rd quarter. Raymond James & Associates now owns 62,446 shares of the company’s stock worth $7,195,000 after purchasing an additional 2,552 shares in the last quarter. Blue Trust Inc. grew its holdings in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the period. Trust Point Inc. increased its position in Neurocrine Biosciences by 22.0% in the third quarter. Trust Point Inc. now owns 1,935 shares of the company’s stock worth $223,000 after buying an additional 349 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Neurocrine Biosciences in the third quarter worth about $392,000. Finally, Vontobel Holding Ltd. lifted its position in shares of Neurocrine Biosciences by 12.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 14,590 shares of the company’s stock valued at $1,681,000 after buying an additional 1,639 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Cooke sold 12,632 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the transaction, the insider now directly owns 18,202 shares in the company, valued at $2,789,638.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,968 shares of company stock valued at $8,999,632 over the last ninety days. Insiders own 4.30% of the company’s stock.

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.