FY2024 Earnings Estimate for NBIX Issued By Leerink Partnrs

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at Leerink Partnrs reduced their FY2024 earnings per share estimates for Neurocrine Biosciences in a report issued on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings per share of $4.00 for the year, down from their previous estimate of $4.05. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $3.92 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.

Other analysts have also issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Royal Bank of Canada cut their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Wedbush reiterated an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 16th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.10.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $151.82 on Thursday. The firm’s 50 day simple moving average is $136.97 and its 200-day simple moving average is $131.62. Neurocrine Biosciences has a one year low of $110.95 and a one year high of $157.98. The firm has a market cap of $15.37 billion, a PE ratio of 40.70 and a beta of 0.33.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after purchasing an additional 539,936 shares during the period. Jennison Associates LLC increased its stake in Neurocrine Biosciences by 145.1% in the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after purchasing an additional 485,894 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after buying an additional 363,863 shares during the period. Braidwell LP boosted its stake in Neurocrine Biosciences by 20.9% in the 3rd quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after buying an additional 158,665 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Neurocrine Biosciences by 23.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 533,324 shares of the company’s stock valued at $61,450,000 after buying an additional 102,715 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the transaction, the chief executive officer now directly owns 135,392 shares in the company, valued at $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 214,799 shares of company stock valued at $31,513,583. Insiders own 4.30% 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.