Wedbush Predicts Reduced Earnings for Neurocrine Biosciences

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at Wedbush reduced their FY2024 earnings per share (EPS) estimates for shares of Neurocrine Biosciences in a report issued on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of $3.87 for the year, down from their prior forecast of $3.92. Wedbush currently has a “Outperform” rating and a $148.00 target price 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.

Several other analysts also recently commented on the company. Royal Bank of Canada cut their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. UBS Group boosted their price target on Neurocrine Biosciences from $142.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 16th. Barclays upped their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Finally, BMO Capital Markets dropped their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $165.40.

Neurocrine Biosciences Stock Up 0.8 %

Shares of NBIX opened at $148.73 on Friday. Neurocrine Biosciences has a 52 week low of $110.95 and a 52 week high of $157.98. The stock has a market cap of $15.06 billion, a P/E ratio of 39.87 and a beta of 0.33. The business’s 50 day moving average price is $134.09 and its 200-day moving average price is $131.38.

Insider Transactions at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction 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 sale, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the transaction, the chief executive officer now owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This trade represents a 32.44 % 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 quarter. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in Neurocrine Biosciences by 45.5% in the second quarter. Dimensional Fund Advisors LP now owns 472,929 shares of the company’s stock valued at $65,097,000 after purchasing an additional 147,907 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in Neurocrine Biosciences by 5.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,123 shares of the company’s stock worth $1,118,000 after acquiring an additional 430 shares in the last quarter. Sei Investments Co. raised its position in Neurocrine Biosciences by 47.7% during the second quarter. Sei Investments Co. now owns 128,016 shares of the company’s stock worth $17,624,000 after acquiring an additional 41,347 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Neurocrine Biosciences by 86.8% during the second quarter. Thrivent Financial for Lutherans now owns 46,577 shares of the company’s stock valued at $6,412,000 after purchasing an additional 21,641 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Neurocrine Biosciences by 62.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 19,056 shares of the company’s stock valued at $2,623,000 after purchasing an additional 7,326 shares during the period. Hedge funds and other institutional investors own 92.59% 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.