Neurocrine Biosciences (NASDAQ:NBIX) Issues Quarterly Earnings Results, Misses Expectations By $0.23 EPS

Neurocrine Biosciences (NASDAQ:NBIX) announced its earnings results on Wednesday. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.23), reports. Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. The company had revenue of $622.10 million for the quarter, compared to the consensus estimate of $604.11 million.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $1.94 during midday trading on Friday, hitting $122.21. 1,512,407 shares of the company were exchanged, compared to its average volume of 863,768. The firm has a 50 day simple moving average of $119.77 and a 200-day simple moving average of $133.49. Neurocrine Biosciences has a 52 week low of $103.63 and a 52 week high of $157.98. The firm has a market cap of $12.34 billion, a P/E ratio of 32.76 and a beta of 0.36.

Analyst Ratings Changes

A number of analysts have recently weighed in on NBIX shares. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Jefferies Financial Group raised their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Citigroup lifted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Raymond James restated an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Finally, Morgan Stanley increased their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $163.91.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the sale, the insider now owns 6,607 shares in the company, valued at approximately $975,853.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Neurocrine Biosciences news, Director Gary A. Lyons sold 11,570 shares of Neurocrine Biosciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total value of $1,740,475.10. Following the completion of the transaction, the director now owns 119,047 shares in the company, valued at approximately $17,908,240.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the transaction, the insider now directly owns 6,607 shares in the company, valued at approximately $975,853.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,336 shares of company stock worth $7,063,652 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. RFP Financial Group LLC raised its stake in shares of Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $28,000. Innealta Capital LLC acquired a new position in Neurocrine Biosciences during the 2nd quarter worth $30,000. New Covenant Trust Company N.A. bought a new position in Neurocrine Biosciences in the 1st quarter valued at $32,000. Finally, EdgeRock Capital LLC bought a new position in Neurocrine Biosciences in the 2nd quarter valued at $35,000. 92.59% of the stock is owned by institutional investors.

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.