Neurocrine Biosciences Earnings: Here’s Why Investors are Selling Shares Now

Neurocrine Biosciences Inc. (NASDAQ:NBIX) had a loss and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.67%.

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Neurocrine Biosciences Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.18 in the quarter versus EPS of $-0.01 in the year-earlier quarter.

Revenue: Decreased 93.79% to $700,000 from the year-earlier quarter.

Actual vs. Wall St. Expectations: Neurocrine Biosciences Inc. reported adjusted EPS loss of $0.18 per share. By that measure, the company met the mean analyst estimate of $-0.18. It missed the average revenue estimate of $1.12 million.

Quoting Management: “AbbVie has made great progress with elagolix. The initiation of this Phase IIb study in uterine fibroids is another significant milestone for this program,” said Kevin Gorman, Ph.D., President and Chief Executive Officer of Neurocrine Biosciences. “Our VMAT2 program also continues to move forward in two Phase IIb tardive dyskinesia studies, with an End of Phase II FDA meeting anticipated later this year.”

Key Stats (on next page)…

Revenue decreased 96.81% from $21.95 million in the previous quarter. EPS decreased to $-0.18 in the quarter versus EPS of $0.14 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from $0 to a loss $0.19. For the current year, the average estimate has moved down from a loss of $0.54 to a loss of $0.77 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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