FY2024 EPS Estimates for NBIX Decreased by Leerink Partnrs

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Analysts at Leerink Partnrs cut their FY2024 earnings per share estimates for shares of Neurocrine Biosciences in a research note issued on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now anticipates that the company will earn $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.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada dropped their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. UBS Group raised their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, December 16th. HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Finally, BMO Capital Markets lowered their price objective on 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. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $166.10.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $153.29 on Thursday. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The company’s 50-day simple moving average is $135.88 and its 200 day simple moving average is $131.44. The firm has a market capitalization of $15.52 billion, a P/E ratio of 41.10 and a beta of 0.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. State Street Corp lifted its position in shares of Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after buying an additional 539,936 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after acquiring an additional 485,894 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 639.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after acquiring an additional 363,863 shares during the last quarter. Braidwell LP grew its holdings in shares of Neurocrine Biosciences by 20.9% in the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after purchasing an additional 158,665 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Neurocrine Biosciences by 23.9% in the third quarter. BNP Paribas Financial Markets now owns 533,324 shares of the company’s stock worth $61,450,000 after purchasing an additional 102,715 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the transaction, the director now directly owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 214,799 shares of company stock worth $31,513,583 over the last three months. 4.30% of the stock is currently owned by company insiders.

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.