Wedbush Expects Weaker Earnings for Neurocrine Biosciences

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Stock analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for Neurocrine Biosciences in a research report issued on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of $3.87 for the year, down from their prior estimate of $3.92. Wedbush has a “Outperform” rating and a $148.00 price objective on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $3.93 per share. Wedbush also issued estimates for Neurocrine Biosciences’ Q4 2024 earnings at $1.58 EPS.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler restated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. BMO Capital Markets decreased their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research report on Thursday, October 17th. HC Wainwright restated a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, Royal Bank of Canada reduced their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.81.

Neurocrine Biosciences Trading Up 0.8 %

Shares of NBIX opened at $148.73 on Friday. The firm’s 50-day moving average is $134.09 and its two-hundred day moving average is $131.46. Neurocrine Biosciences has a twelve month low of $110.95 and a twelve month high of $157.98. The firm has a market capitalization of $15.06 billion, a P/E ratio of 39.87 and a beta of 0.33.

Insider Activity

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares in the company, valued at $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,694 shares of company stock valued at $9,676,730 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently added to or reduced their stakes in NBIX. Brooklyn Investment Group raised its holdings in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the period. Blue Trust Inc. raised its stake in shares of 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. R Squared Ltd acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth $61,000. UMB Bank n.a. boosted its stake in shares of Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Neurocrine Biosciences during the 3rd quarter valued at $63,000. 92.59% of the stock is owned by hedge funds and other 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.