Research Analysts Issue Forecasts for NBIX FY2024 Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities researchers at Wedbush dropped their FY2024 earnings estimates for Neurocrine Biosciences in a research note issued on Thursday, January 23rd. Wedbush analyst L. Chico now expects 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 price target 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.

A number of other analysts also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 16th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets reduced their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada decreased their price objective 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. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.40.

Neurocrine Biosciences Price Performance

NBIX stock opened at $148.73 on Friday. The stock has a market capitalization of $15.06 billion, a P/E ratio of 39.87 and a beta of 0.33. The business has a 50-day moving average of $134.09 and a 200-day moving average of $131.38. Neurocrine Biosciences has a fifty-two week low of $110.95 and a fifty-two week high of $157.98.

Insider Activity

In other news, CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the transaction, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. The trade was a 32.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,694 shares of company stock valued at $9,676,730. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently bought and sold shares of the stock. Commerce Bank raised its position in shares of Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after purchasing an additional 108 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in Neurocrine Biosciences by 2.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock valued at $496,000 after acquiring an additional 113 shares during the last quarter. Brooklyn Investment Group grew its holdings in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Tealwood Asset Management Inc. grew its stake in shares of Neurocrine Biosciences by 1.0% during the 4th quarter. Tealwood Asset Management Inc. now owns 11,911 shares of the company’s stock worth $1,626,000 after acquiring an additional 118 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Neurocrine Biosciences by 42.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the company’s stock worth $72,000 after purchasing an additional 157 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.