Neurocrine: 3Q Earnings Snapshot
SAN DIEGO (AP) _ Neurocrine Biosciences Inc. (NBIX) on Monday reported third-quarter net income of $50.8 million, after reporting a loss in the same period a year earlier.
The San Diego-based company said it had profit of 52 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The biopharmaceutical company posted revenue of $151.8 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $151.2 million.
Neurocrine shares have risen 42 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $110.25, an increase of 50 percent in the last 12 months.