Cantor Fitzgerald Issues Positive Outlook for NBIX Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) - Cantor Fitzgerald boosted their FY2025 earnings per share (EPS) estimates for Neurocrine Biosciences in a research note issued on Tuesday, May 6th. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will earn $4.39 per share for the year, up from their prior forecast of $4.20. The consensus estimate for Neurocrine Biosciences' current full-year earnings is $4.28 per share.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.20 EPS.

Several other brokerages have also recently issued reports on NBIX. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. HC Wainwright lowered their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC raised their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Bank of America lowered their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twenty have given a 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 $162.00.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded down $2.32 during midday trading on Thursday, hitting $118.11. 622,444 shares of the company traded hands, compared to its average volume of 1,116,013. The company has a market cap of $11.69 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The company's 50-day simple moving average is $106.36 and its 200-day simple moving average is $121.93. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $157.98.

Neurocrine Biosciences declared that its board has approved a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,551 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the transaction, the insider now owns 19,544 shares in the company, valued at approximately $2,282,348.32. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director now owns 37,491 shares of the company's stock, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,953 shares of company stock worth $4,467,990. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter worth about $25,000. Huntington National Bank boosted its holdings in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the last quarter. GeoWealth Management LLC lifted its holdings in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after acquiring an additional 102 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Neurocrine Biosciences in the first quarter valued at approximately $34,000. 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.