Neurocrine Biosciences (NASDAQ:NBIX) Releases Quarterly Earnings Results, Misses Expectations By $0.52 EPS

Neurocrine Biosciences (NASDAQ:NBIX) posted its quarterly earnings data on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52), Zacks reports. The company had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. Neurocrine Biosciences’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share.

Neurocrine Biosciences Trading Down 0.0 %

Shares of NASDAQ:NBIX traded down $0.01 on Friday, reaching $153.14. The company had a trading volume of 799,316 shares, compared to its average volume of 781,810. Neurocrine Biosciences has a 52-week low of $100.52 and a 52-week high of $157.98. The firm’s 50 day simple moving average is $139.82 and its 200-day simple moving average is $138.45. The firm has a market capitalization of $15.41 billion, a PE ratio of 42.19 and a beta of 0.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, April 24th. UBS Group raised their price objective on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Thursday. Finally, Canaccord Genuity Group raised their price target on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.16.

Insider Activity

In related news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,055,108.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,055,108.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen A. Sherwin sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the transaction, the director now owns 26,504 shares in the company, valued at $3,537,223.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,709 shares of company stock worth $11,009,150. 4.30% of the stock is currently owned by company insiders.

About Neurocrine Biosciences

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.