Q2 2024 EPS Estimates for Neurocrine Biosciences, Inc. Lowered by Wedbush (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at Wedbush lowered their Q2 2024 earnings per share (EPS) estimates for Neurocrine Biosciences in a research note issued to investors on Wednesday, May 1st. Wedbush analyst L. Chico now anticipates that the company will post earnings of $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. Citigroup boosted their price objective on Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Guggenheim upped their price target on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Mizuho raised 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.88.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $143.19 on Monday. Neurocrine Biosciences has a 1 year low of $89.04 and a 1 year high of $148.37. The firm’s 50 day moving average price is $137.63 and its two-hundred day moving average price is $129.45. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 39.45 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last released its 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 the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NBIX. Donoghue Forlines LLC increased its position in Neurocrine Biosciences by 19.6% during the first quarter. Donoghue Forlines LLC now owns 1,851 shares of the company’s stock worth $255,000 after acquiring an additional 303 shares during the period. Forsta AP Fonden raised its position in shares of Neurocrine Biosciences by 94.3% during the first quarter. Forsta AP Fonden now owns 34,200 shares of the company’s stock valued at $4,717,000 after buying an additional 16,600 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in shares of Neurocrine Biosciences by 1.3% in the first quarter. Grandfield & Dodd LLC now owns 15,594 shares of the company’s stock valued at $2,151,000 after buying an additional 203 shares during the period. Texas Permanent School Fund Corp grew its position in Neurocrine Biosciences by 2.6% during the first quarter. Texas Permanent School Fund Corp now owns 87,087 shares of the company’s stock worth $12,011,000 after buying an additional 2,211 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in Neurocrine Biosciences during the first quarter valued at about $1,351,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,274 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $134.15, for a total transaction of $305,057.10. Following the transaction, the chief executive officer now owns 506,962 shares in the company, valued at $68,008,952.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Eric Benevich sold 75,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the transaction, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,683,637.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Charles Gorman sold 2,274 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $134.15, for a total value of $305,057.10. Following the completion of the sale, the chief executive officer now directly owns 506,962 shares in the company, valued at approximately $68,008,952.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,771 shares of company stock valued at $24,360,922. Corporate insiders own 4.30% of the company’s stock.

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.