Leerink Partnrs Has Pessimistic View of NBIX FY2024 Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at Leerink Partnrs dropped their FY2024 earnings estimates for Neurocrine Biosciences in a report issued on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings of $4.00 per share for the year, down from their previous estimate of $4.05. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $3.93 per share. Leerink Partnrs also issued estimates for Neurocrine Biosciences’ Q4 2024 earnings at $1.71 EPS, Q2 2025 earnings at $1.52 EPS, Q3 2025 earnings at $1.76 EPS, Q4 2025 earnings at $1.85 EPS, FY2025 earnings at $6.05 EPS, FY2026 earnings at $8.50 EPS, FY2027 earnings at $11.05 EPS and FY2028 earnings at $13.40 EPS.

NBIX has been the topic of a number of other reports. UBS Group upped their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Royal Bank of Canada reduced their price objective on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, December 20th. Finally, Piper Sandler reiterated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.10.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $153.29 on Thursday. The business has a 50-day simple moving average of $135.88 and a 200 day simple moving average of $131.44. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The firm has a market capitalization of $15.52 billion, a price-to-earnings ratio of 41.10 and a beta of 0.33.

Insiders Place Their Bets

In related news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now owns 514,596 shares in the company, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,799 shares of company stock worth $31,513,583 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group boosted its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. grew its stake in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. R Squared Ltd purchased a new position in Neurocrine Biosciences during the 4th quarter valued at about $61,000. Finally, UMB Bank n.a. raised its position in Neurocrine Biosciences by 211.6% during the 4th 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 last quarter. Institutional investors own 92.59% 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.