Q1 2024 EPS Estimates for Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Raised by Analyst

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) - Equities research analysts at Leerink Partnrs upped their Q1 2024 earnings per share (EPS) estimates for Neurocrine Biosciences in a note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings per share of $0.67 for the quarter, up from their previous forecast of $0.64. The consensus estimate for Neurocrine Biosciences' current full-year earnings is $4.83 per share. Leerink Partnrs also issued estimates for Neurocrine Biosciences' Q2 2024 earnings at $1.26 EPS, Q3 2024 earnings at $1.41 EPS, Q4 2024 earnings at $1.46 EPS, FY2024 earnings at $4.80 EPS, FY2025 earnings at $6.65 EPS, FY2026 earnings at $9.15 EPS, FY2027 earnings at $10.80 EPS and FY2028 earnings at $12.25 EPS.

Other research analysts have also issued research reports about the company. Barclays raised their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, January 23rd. Cantor Fitzgerald restated an "overweight" rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Wednesday. Mizuho raised their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an "overweight" rating in a report on Wednesday, March 20th. Finally, Citigroup dropped their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a "neutral" rating on the stock in a report on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus target price of $139.25.

Neurocrine Biosciences Stock Down 1.6 %

NASDAQ:NBIX traded down $2.16 on Thursday, hitting $135.93. The stock had a trading volume of 808,737 shares, compared to its average volume of 857,509. The business's fifty day moving average is $136.92 and its 200 day moving average is $126.13. The company has a market cap of $13.53 billion, a PE ratio of 56.17, a P/E/G ratio of 0.90 and a beta of 0.25. Neurocrine Biosciences has a 52 week low of $89.04 and a 52 week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The company's quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. Dodge & Cox boosted its position in shares of Neurocrine Biosciences by 489.8% in the 4th quarter. Dodge & Cox now owns 1,259,744 shares of the company's stock worth $165,984,000 after purchasing an additional 1,046,142 shares in the last quarter. Norges Bank bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $111,786,000. BlackRock Inc. boosted its position in shares of Neurocrine Biosciences by 6.6% in the 1st quarter. BlackRock Inc. now owns 13,466,650 shares of the company's stock worth $1,363,094,000 after purchasing an additional 838,997 shares in the last quarter. Vestal Point Capital LP bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $105,408,000. Finally, Braidwell LP bought a new stake in shares of Neurocrine Biosciences in the 1st quarter worth approximately $77,615,000. 92.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the transaction, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Eric Benevich sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the sale, the insider now directly owns 40,778 shares of the company's stock, valued at approximately $5,683,637.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the sale, the insider now directly owns 7,507 shares in the company, valued at $1,088,965.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 177,176 shares of company stock worth $24,562,081. Company insiders own 4.60% 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.