Neurocrine Biosciences (NASDAQ:NBIX) Posts Earnings Results, Misses Estimates By $0.52 EPS

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

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded down $0.01 on Friday, hitting $153.14. The company’s stock had a trading volume of 799,316 shares, compared to its average volume of 781,810. The company has a market capitalization of $15.41 billion, a PE ratio of 42.19 and a beta of 0.37. The company has a 50-day simple moving average of $139.82 and a 200 day simple moving average of $138.45. Neurocrine Biosciences has a 1 year low of $100.52 and a 1 year high of $157.98.

Analyst Ratings Changes

NBIX has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, July 25th. Citigroup raised their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI started coverage on shares of Neurocrine Biosciences in a report on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Finally, Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $157.16.

Insider Activity

In other Neurocrine Biosciences news, Director Gary A. Lyons sold 12,500 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $135.63, for a total transaction of $1,695,375.00. Following the completion of the sale, the director now directly owns 116,947 shares in the company, valued at $15,861,521.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Gary A. Lyons sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $135.63, for a total transaction of $1,695,375.00. Following the transaction, the director now directly owns 116,947 shares of the company’s stock, valued at approximately $15,861,521.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen A. Sherwin sold 40,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,709 shares of company stock worth $11,009,150. 4.30% of the stock is currently owned by 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.