Neurocrine Biosciences (NASDAQ:NBIX) Announces Quarterly Earnings Results

Neurocrine Biosciences (NASDAQ:NBIX) released its quarterly earnings data on Thursday. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $1.19, FiscalAI reports. Neurocrine Biosciences had a net margin of 21.55% and a return on equity of 19.79%. The company had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. During the same period in the previous year, the firm earned $1.65 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 39.5% on a year-over-year basis.

Here are the key takeaways from Neurocrine Biosciences’ conference call:

• Strong commercial performance: Q2 revenue exceeded $950 million, up nearly 40% year over year, with non-GAAP EPS of $2.85. INGREZZA sales rose 15% to $716 million, prompting the company to raise full-year guidance to $2.825 billion–$2.875 billion.
• CRENESSITY sales reached $184 million, supported by steady new-patient additions, expanding prescriber adoption, favorable reimbursement, and high persistence. Management estimates approximately 15% of diagnosed patients have been prescribed the drug, indicating substantial remaining runway.
• The newly acquired VYKAT XR generated $54 million in Neurocrine-recognized Q2 sales, while pro forma sales were $94 million. Management expects sequential growth beginning in Q4 as it completes integration and works through discontinuations among patients from the initial 2025 launch bolus.
• The company highlighted major anticipated 2027 catalysts, including Phase III readouts for osavampator in major depressive disorder and direclidine in schizophrenia. Neurocrine also expects to advance its obesity, muscarinic, and Friedreich’s ataxia programs.
• Neurocrine ended Q2 with roughly $500 million in cash and no debt after funding the approximately $2.9 billion Soleno acquisition with cash on hand. Future earnings could face variability from acquisition-related costs, potential increased commercial investment for successful pipeline launches, and uncertainty around INGREZZA pricing under the IRA in 2029.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded up $4.71 during midday trading on Thursday, hitting $185.50. 2,170,803 shares of the stock were exchanged, compared to its average volume of 1,054,397. Neurocrine Biosciences has a 1 year low of $122.14 and a 1 year high of $186.12. The firm has a market cap of $18.65 billion, a P/E ratio of 28.58, a P/E/G ratio of 0.76 and a beta of 0.39. The company has a 50 day moving average price of $167.61 and a two-hundred day moving average price of $146.25.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Piper Sandler boosted their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Leerink Partners upped their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Finally, Wedbush raised their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.05.

Insider Buying and Selling

In other news, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the sale, the insider directly owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 395,422 shares of company stock worth $62,448,693 over the last quarter. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of NBIX. Geneos Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $39,000. Kestra Advisory Services LLC bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $53,000. Finally, Aster Capital Management DIFC Ltd raised its holdings in Neurocrine Biosciences by 74.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 614 shares of the company’s stock valued at $87,000 after acquiring an additional 262 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.