Neurocrine Biosciences (NASDAQ:NBIX) Issues Earnings Results

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

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded down $3.15 during midday trading on Thursday, reaching $118.46. The stock had a trading volume of 1,232,569 shares, compared to its average volume of 1,103,996. The firm's fifty day simple moving average is $106.12 and its two-hundred day simple moving average is $121.80. Neurocrine Biosciences has a twelve month low of $84.23 and a twelve month high of $157.98. The firm has a market cap of $11.72 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 0.77 and a beta of 0.26.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NBIX. Morgan Stanley restated an "overweight" rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price target on the stock. Evercore ISI reduced their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. StockNews.com lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $162.00.

Insider Activity at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 2,558 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the transaction, the chief financial officer now owns 34,775 shares of the company's stock, valued at $4,063,806.50. This represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Gano sold 980 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $118.39, for a total value of $116,022.20. Following the completion of the sale, the chief executive officer now owns 137,658 shares in the company, valued at $16,297,330.62. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,907 shares of company stock valued at $4,935,982. 4.30% of the stock is currently owned by corporate insiders.

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

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.