Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Expected to Post Q4 2022 Earnings of $1.10 Per Share

Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) – Equities researchers at William Blair increased their Q4 2022 earnings per share (EPS) estimates for Neurocrine Biosciences in a research report issued on Monday, January 23rd. William Blair analyst M. Minter now expects that the company will post earnings per share of $1.10 for the quarter, up from their prior forecast of $1.04. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $1.80 per share. William Blair also issued estimates for Neurocrine Biosciences’ Q1 2023 earnings at $0.74 EPS, Q2 2023 earnings at $0.71 EPS, Q3 2023 earnings at $0.73 EPS, Q4 2023 earnings at $0.92 EPS and FY2023 earnings at $3.10 EPS.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). The company had revenue of $387.90 million during the quarter, compared to the consensus estimate of $378.05 million. Neurocrine Biosciences had a net margin of 4.19% and a return on equity of 4.06%.

A number of other analysts have also recently issued reports on NBIX. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 7th. Cantor Fitzgerald raised their price objective on Neurocrine Biosciences from $127.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, November 2nd. BMO Capital Markets raised their price objective on Neurocrine Biosciences from $78.00 to $101.00 in a research report on Wednesday, November 2nd. Royal Bank of Canada raised their price objective on Neurocrine Biosciences from $101.00 to $117.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 2nd. Finally, Wells Fargo & Company raised their price objective on Neurocrine Biosciences from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 2nd. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.24.

Neurocrine Biosciences Stock Down 0.1 %

NBIX stock opened at $108.66 on Wednesday. The business has a 50 day moving average price of $117.62 and a two-hundred day moving average price of $110.20. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 190.63 and a beta of 0.54. Neurocrine Biosciences has a twelve month low of $72.28 and a twelve month high of $129.29.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Neurocrine Biosciences by 1.1% in the third quarter. Vanguard Group Inc. now owns 9,000,963 shares of the company’s stock valued at $955,992,000 after acquiring an additional 96,489 shares during the last quarter. Bellevue Group AG lifted its holdings in Neurocrine Biosciences by 0.4% in the third quarter. Bellevue Group AG now owns 2,855,146 shares of the company’s stock worth $303,245,000 after buying an additional 10,841 shares during the period. Deerfield Management Company L.P. Series C lifted its holdings in shares of Neurocrine Biosciences by 21.4% during the second quarter. Deerfield Management Company L.P. Series C now owns 2,012,714 shares of the company’s stock valued at $196,199,000 after purchasing an additional 354,914 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Neurocrine Biosciences by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 1,740,955 shares of the company’s stock valued at $184,908,000 after purchasing an additional 37,538 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Neurocrine Biosciences by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,449,023 shares of the company’s stock valued at $141,251,000 after purchasing an additional 168,900 shares during the last quarter. Hedge funds and other institutional investors own 92.58% of the company’s stock.

Insider Activity

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,923 shares of Neurocrine Biosciences stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $115.04, for a total transaction of $566,341.92. Following the transaction, the insider now directly owns 29,234 shares of the company’s stock, valued at approximately $3,363,079.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Eric Benevich sold 24,593 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $125.33, for a total value of $3,082,240.69. Following the transaction, the insider now owns 15,643 shares in the company, valued at $1,960,537.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Darin Lippoldt sold 4,923 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $115.04, for a total value of $566,341.92. Following the sale, the insider now owns 29,234 shares in the company, valued at approximately $3,363,079.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 139,534 shares of company stock worth $17,059,059. Insiders own 4.40% of the company’s stock.

About Neurocrine Biosciences

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Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.