NBIX FY2024 EPS Forecast Reduced by Cantor Fitzgerald

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Research analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for Neurocrine Biosciences in a research note issued to investors on Thursday, October 31st. Cantor Fitzgerald analyst J. Schimmer now expects that the company will post earnings of $4.15 per share for the year, down from their prior estimate of $4.30. Cantor Fitzgerald currently has a “Overweight” rating and a $155.00 target price on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.30 per share.

A number of other equities analysts have also commented on the company. HC Wainwright reiterated a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, November 1st. Barclays dropped their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Oppenheimer boosted their target price on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Guggenheim increased their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $121.53 on Monday. The company has a market capitalization of $12.30 billion, a PE ratio of 32.58 and a beta of 0.35. Neurocrine Biosciences has a one year low of $103.63 and a one year high of $157.98. The company’s fifty day moving average price is $118.51 and its 200 day moving average price is $133.33.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 14,100 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the transaction, the chief financial officer now owns 31,528 shares of the company’s stock, valued at $4,741,180.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Matt Abernethy sold 14,100 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the transaction, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,741,180.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary A. Lyons sold 11,570 shares of Neurocrine Biosciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the sale, the director now directly owns 119,047 shares of the company’s stock, valued at $17,908,240.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,063 shares of company stock worth $7,023,330. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Neurocrine Biosciences by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after acquiring an additional 220,598 shares during the period. Renaissance Technologies LLC boosted its stake in Neurocrine Biosciences by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares during the last quarter. AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 23.0% in the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after purchasing an additional 228,444 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Neurocrine Biosciences by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after buying an additional 13,069 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Neurocrine Biosciences by 40.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock worth $97,828,000 after purchasing an additional 203,934 shares during the period. Institutional investors and hedge funds 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.