Neurocrine Biosciences (NASDAQ:NBIX) Issues Quarterly Earnings Results, Beats Estimates By $1.38 EPS

Neurocrine Biosciences (NASDAQ:NBIX) announced its quarterly earnings results on Monday. The company reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $1.38, FiscalAI reports. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%.

Neurocrine Biosciences Stock Performance

NBIX traded down $0.75 during mid-day trading on Monday, reaching $145.35. The stock had a trading volume of 1,977,254 shares, compared to its average volume of 1,220,998. The stock has a market capitalization of $14.77 billion, a P/E ratio of 21.31, a P/E/G ratio of 0.64 and a beta of 0.36. The firm’s fifty day simple moving average is $146.63 and its two-hundred day simple moving average is $147.39. Neurocrine Biosciences has a 52 week low of $122.14 and a 52 week high of $186.12.

Wall Street Analysts Forecast Growth

NBIX has been the topic of several research analyst reports. Guggenheim assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, October 6th. They set a “buy” rating and a $207.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Stifel Nicolaus boosted their target price on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wedbush increased their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $198.00 price target on shares of Neurocrine Biosciences in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.14.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider David W. Boyer sold 826 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the transaction, the insider owned 8,722 shares of the company’s stock, valued at $1,373,278.90. This represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matt Abernethy sold 2,311 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.20, for a total value of $363,289.20. Following the sale, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at $6,729,417.60. This represents a 5.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.