Cantor Fitzgerald Issues Positive Outlook for NBIX Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) - Cantor Fitzgerald boosted their FY2025 EPS estimates for Neurocrine Biosciences in a report released on Tuesday, May 6th. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will post earnings per share of $4.39 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 released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The firm had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS.

A number of other brokerages have also recently issued reports on NBIX. Evercore ISI decreased their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada boosted their price target on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday. Needham & Company LLC boosted their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday. Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Bank of America dropped their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $162.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $121.54 on Thursday. The firm's 50-day simple moving average is $106.12 and its 200 day simple moving average is $121.80. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $157.98. The firm has a market cap of $12.02 billion, a P/E ratio of 36.94, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences declared that its Board of Directors has initiated a share repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This represents a 44.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Julie Cooke sold 700 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the completion of the transaction, the insider now directly owns 18,831 shares of the company's stock, valued at $2,227,330.68. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,907 shares of company stock valued at $4,935,982. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Neurocrine Biosciences by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock valued at $1,381,331,000 after purchasing an additional 122,681 shares during the period. Dodge & Cox grew its stake in Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after purchasing an additional 1,728,605 shares in the last quarter. AQR Capital Management LLC lifted its stake in Neurocrine Biosciences by 2.9% in the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock worth $258,926,000 after acquiring an additional 53,610 shares during the period. Geode Capital Management LLC increased its holdings in Neurocrine Biosciences by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock valued at $255,523,000 after buying an additional 15,830 shares during the period. Finally, Wellington Management Group LLP boosted its position in Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after purchasing an additional 739,199 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.

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