- Increased Product Sales Forecast: NBIX raised its forecast for FY net Ingrezza product sales to a range of $2.25 billion to $2.3 billion, up from the previous estimate of $2.10 billion to $2.20 billion. The market estimate was $2.18 billion.
- Second Quarter Revenue: The company reported $590.2 million in revenue for the second quarter, a 30% year-over-year increase. This exceeded the estimate of $546.6 million.
- Ingrezza Product Sales: Net Ingrezza product sales for the second quarter totaled $580 million, marking a 32% increase year-over-year. The estimate was $539.7 million.
- Collaboration Revenue: Collaboration revenue remained flat year-over-year at $6.4 million, slightly below the estimate of $6.79 million.
- Research and Development (R&D) Expenses: R&D expenses rose by 31% year-over-year to $191.1 million, compared to an estimate of $165.6 million.
- Selling, General, and Administrative (SG&A) Expenses: SG&A expenses were $242.0 million, representing a 9.1% increase year-over-year. The estimate was $227.8 million.
- Adjusted Earnings Per Share (EPS): Adjusted EPS came in at $1.63, up from $1.25 year-over-year. This was slightly above the estimate of $1.59.
- Market Sentiment: There are currently 21 buy ratings, 7 hold ratings, and no sell ratings for the stock.
Neurocrine Biosciences on Smartkarma
Neurocrine Biosciences has garnered positive attention from analysts on Smartkarma, as seen in the research reports by Baptista Research. One report highlights the company’s quarterly update, emphasizing its strategic advancements and financial success, particularly noting the impressive year-over-year growth driven by its flagship product, INGREZZA. With sales reaching $506 million for the quarter and showing over 20% annual growth, INGREZZA’s demand in treating conditions like tardive dyskinesia and Huntington’s disease chorea remains robust and promising.
In another report, Baptista Research delves into Neurocrine Biosciences‘ growth trajectory in 2023, underlining the company’s strong performance and successful business strategies. The report focuses on the significant year-over-year sales growth of nearly 30% for INGREZZA, a drug indicated for treating tardive dyskinesia in adults. Additionally, Baptista Research provides insights into the potential factors that could impact the company’s valuation in the future, employing a Discounted Cash Flow methodology for a thorough analysis.
A look at Neurocrine Biosciences Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 1 | |
| Growth | 3 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Neurocrine Biosciences, Inc. is positioned with a promising long-term outlook based on the Smartkarma Smart Scores. With favorable scores in Growth, Resilience, and Momentum, the company shows potential for sustained expansion and steady performance. This indicates a positive trajectory for the company in terms of developing new therapies for a range of neurological conditions. However, challenges may arise in terms of current valuation and dividend offerings, which have been rated lower.
Neurocrine Biosciences, specializing in therapies for neuropsychiatric and neurodegenerative disorders, demonstrates a strong focus on innovation and resilience in the face of market dynamics. The company’s robust growth, solid resilience, and momentum in the industry position it well for long-term success. Despite lower scores in Value and Dividend factors, the overall outlook for Neurocrine Biosciences remains optimistic, driven by its ongoing dedication to developing treatments for a variety of neurological diseases and disorders.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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