Neurocrine: 2Q Earnings Snapshot
SAN DIEGO (AP) _ Neurocrine Biosciences Inc. (NBIX) on Monday reported second-quarter net income of $51.3 million, after reporting a loss in the same period a year earlier.
The San Diego-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring gains, were 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The biopharmaceutical company posted revenue of $183.6 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $160.2 million.
Neurocrine shares have increased 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $86.97, a fall of 19% in the last 12 months.