Research Analysts Offer Predictions for NBIX FY2024 Earnings

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at Cantor Fitzgerald reduced their FY2024 earnings per share (EPS) estimates for shares of Neurocrine Biosciences in a report issued on Thursday, October 31st. Cantor Fitzgerald analyst J. Schimmer now forecasts that the company will earn $4.15 per share for the year, down from their prior forecast of $4.30. Cantor Fitzgerald has a “Overweight” rating and a $155.00 price objective on the stock. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $4.30 per share.

NBIX has been the topic of a number of other research reports. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. Raymond James reiterated an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Morgan Stanley raised their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Friday, November 1st. Finally, Barclays reduced their price objective on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences Trading Up 0.8 %

NASDAQ NBIX opened at $121.53 on Monday. The stock has a market cap of $12.30 billion, a P/E ratio of 32.58 and a beta of 0.35. The company’s fifty day simple moving average is $118.51 and its 200-day simple moving average is $133.33. Neurocrine Biosciences has a 52 week low of $103.63 and a 52 week high of $157.98.

Insider Activity

In other news, insider Ingrid Delaet sold 7,143 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total value of $1,072,164.30. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at $376,300.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 7,143 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total value of $1,072,164.30. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $376,300.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,063 shares of company stock worth $7,023,330. Insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in NBIX. Vanguard Group Inc. lifted its position in Neurocrine Biosciences by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after buying an additional 220,598 shares in the last quarter. Renaissance Technologies LLC boosted its position in Neurocrine Biosciences by 9.6% during the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after purchasing an additional 216,500 shares during the last quarter. AQR Capital Management LLC boosted its position in Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after purchasing an additional 228,444 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Neurocrine Biosciences by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock valued at $128,639,000 after purchasing an additional 13,069 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Neurocrine Biosciences by 40.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock worth $97,828,000 after purchasing an additional 203,934 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.