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Neurocrine misses 4Q profit forecasts

SAN DIEGO (AP) _ Neurocrine Biosciences Inc. (NBIX) on Tuesday reported fourth-quarter net income of $6.9 million, after reporting a loss in the same period a year earlier.

The San Diego-based company said it had profit of 7 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The biopharmaceutical company posted revenue of $94.5 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $94 million.

For the year, the company reported that its loss widened to $142.5 million, or $1.62 per share. Revenue was reported as $161.6 million.

Neurocrine shares have risen almost 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $83.69, a climb of 99 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NBIX at https://www.zacks.com/ap/NBIX