Neurocrine Biosciences (NASDAQ:NBIX) Issues Earnings Results

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.08 earnings per share (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%.

Neurocrine Biosciences Stock Performance

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NBIX stock traded up $0.07 during mid-day trading on Monday, reaching $109.75. The company had a trading volume of 1,819,828 shares, compared to its average volume of 1,075,980. The firm has a fifty day simple moving average of $106.19 and a 200 day simple moving average of $121.88. 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 0.33. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $157.98.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NBIX. Canaccord Genuity Group lowered their price objective on shares of Neurocrine Biosciences from $163.00 to $158.00 and set a "buy" rating on the stock in a report on Monday, April 28th. UBS Group lowered their price objective on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Wedbush reduced their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Needham & Company LLC upgraded Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 price objective for the company in a research report on Tuesday, April 15th. Finally, Bank of America dropped their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.90.

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Check Out Our Latest Stock Report on Neurocrine Biosciences

Insider Buying and Selling

In other news, Director Kevin Charles Gorman sold 5,844 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Cooke sold 1,551 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the transaction, the insider now owns 19,544 shares of the company's stock, valued at $2,282,348.32. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,907 shares of company stock worth $1,629,982. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences announced that its Board of Directors has initiated a stock buyback program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

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.

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