Leerink Partnrs Weighs in on Neurocrine Biosciences, Inc.’s Q3 2023 Earnings (NASDAQ:NBIX)

Posted by Defense World Staff on Aug 5th, 2023

Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) – Analysts at Leerink Partnrs raised their Q3 2023 earnings estimates for Neurocrine Biosciences in a report released on Tuesday, August 1st. Leerink Partnrs analyst M. Goodman now anticipates that the company will earn $0.99 per share for the quarter, up from their prior forecast of $0.92. The consensus estimate for Neurocrine Biosciences’ current full-year earnings is $1.93 per share.

Other analysts have also issued research reports about the stock. Wedbush dropped their price target on shares of Neurocrine Biosciences from $131.00 to $128.00 and set an “outperform” rating on the stock in a research report on Monday, April 17th. Citigroup dropped their price target on shares of Neurocrine Biosciences from $127.00 to $122.00 in a research report on Thursday, May 4th. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday. SVB Securities upgraded shares of Neurocrine Biosciences from a “market perform” rating to an “outperform” rating and raised their price target for the company from $115.00 to $125.00 in a research report on Monday, July 24th. Finally, Barclays dropped their price target on shares of Neurocrine Biosciences from $131.00 to $125.00 in a research report on Thursday, May 4th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.59.

Neurocrine Biosciences Stock Down 1.6 %

NASDAQ:NBIX opened at $101.63 on Friday. The firm has a market capitalization of $9.92 billion, a P/E ratio of 58.75, a PEG ratio of 1.21 and a beta of 0.50. Neurocrine Biosciences has a 1-year low of $89.04 and a 1-year high of $129.29. The company’s fifty day moving average price is $96.51 and its 200-day moving average price is $99.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.83 and a quick ratio of 3.74.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its quarterly earnings data on Wednesday, May 3rd. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($1.05). The business had revenue of $420.40 million during the quarter, compared to analyst estimates of $412.96 million. Neurocrine Biosciences had a return on equity of 10.72% and a net margin of 10.54%.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Neurocrine Biosciences by 0.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,526 shares of the company’s stock valued at $1,370,000 after purchasing an additional 104 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Neurocrine Biosciences by 1.0% in the fourth quarter. First Republic Investment Management Inc. now owns 11,069 shares of the company’s stock valued at $1,322,000 after purchasing an additional 113 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Neurocrine Biosciences by 1.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,430 shares of the company’s stock valued at $627,000 after purchasing an additional 120 shares in the last quarter. Securian Asset Management Inc. grew its holdings in shares of Neurocrine Biosciences by 1.4% in the fourth quarter. Securian Asset Management Inc. now owns 8,834 shares of the company’s stock valued at $1,055,000 after purchasing an additional 121 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Neurocrine Biosciences by 14.6% during the 4th quarter. Parallel Advisors LLC now owns 964 shares of the company’s stock worth $115,000 after acquiring an additional 123 shares in the last quarter. 91.56% of the stock is owned by hedge funds and other institutional investors.

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.