Neurocrine Biosciences (NASDAQ:NBIX) Issues Earnings Results

Neurocrine Biosciences (NASDAQ:NBIX) posted its quarterly earnings results on Thursday. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62), Zacks reports. Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded down $0.69 during mid-day trading on Thursday, reaching $150.51. The company had a trading volume of 1,239,814 shares, compared to its average volume of 965,840. The company has a market capitalization of $15.24 billion, a P/E ratio of 40.35 and a beta of 0.33. Neurocrine Biosciences has a 1 year low of $110.95 and a 1 year high of $157.98. The stock’s 50-day simple moving average is $138.41 and its 200-day simple moving average is $131.64.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NBIX. Raymond James restated an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Morgan Stanley lifted their price target on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 16th. UBS Group raised their target price on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets reduced their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.85.

Insider Activity

In related news, Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the sale, the director now directly owns 514,596 shares in the company, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the sale, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,693 shares of company stock worth $32,718,279 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

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.