Equities Analysts Set Expectations for NBIX FY2024 Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Research analysts at Leerink Partnrs reduced their FY2024 EPS estimates for Neurocrine Biosciences in a research note issued to investors on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn $4.00 per share for the year, down from their previous estimate of $4.05. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $3.93 per share. Leerink Partnrs also issued estimates for Neurocrine Biosciences’ Q4 2024 earnings at $1.71 EPS, Q2 2025 earnings at $1.52 EPS, Q3 2025 earnings at $1.76 EPS, Q4 2025 earnings at $1.85 EPS, FY2025 earnings at $6.05 EPS, FY2026 earnings at $8.50 EPS, FY2027 earnings at $11.05 EPS and FY2028 earnings at $13.40 EPS.

A number of other brokerages have also recently weighed in on NBIX. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. UBS Group increased their target price on shares of Neurocrine Biosciences from $142.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. BMO Capital Markets lowered their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. Raymond James reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.40.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $150.68 on Thursday. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 40.40 and a beta of 0.33. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98. The company’s fifty day moving average is $135.33 and its two-hundred day moving average is $131.30.

Insider Activity

In related news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the transaction, the insider now owns 2,507 shares in the company, valued at approximately $338,445. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 214,799 shares of company stock worth $31,513,583. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NBIX. The Manufacturers Life Insurance Company increased its stake in shares of Neurocrine Biosciences by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 125,401 shares of the company’s stock valued at $17,264,000 after acquiring an additional 1,074 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Neurocrine Biosciences during the 2nd quarter worth approximately $509,000. Cetera Investment Advisers boosted its holdings in shares of Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after buying an additional 519 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $510,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Neurocrine Biosciences by 20.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 26,867 shares of the company’s stock valued at $3,096,000 after buying an additional 4,600 shares during 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.