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%.
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)…