Neurocrine Biosciences (NASDAQ:NBIX) Issues Earnings Results, Misses Expectations By $0.62 EPS

Neurocrine Biosciences (NASDAQ:NBIX) issued its earnings results on Monday. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.62), Zacks reports. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. During the same period in the prior year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $109.75 on Tuesday. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The business’s 50 day moving average price is $106.03 and its two-hundred day moving average price is $121.83.

Neurocrine Biosciences announced that its board has authorized a stock buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares of the company’s stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kyle Gano sold 980 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $118.39, for a total transaction of $116,022.20. Following the sale, the chief executive officer now owns 137,658 shares of the company’s stock, valued at approximately $16,297,330.62. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,907 shares of company stock worth $1,629,982 in the last quarter. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

NBIX has been the subject of a number of analyst reports. HC Wainwright cut their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wedbush lowered their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Guggenheim reduced their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Needham & Company LLC upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a research note on Tuesday, April 15th. Finally, Canaccord Genuity Group cut their price objective on Neurocrine Biosciences from $163.00 to $158.00 and set a “buy” rating for the company in a report on Monday, April 28th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $160.90.

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.