SAN DIEGO (AP) _ Neurocrine Biosciences Inc. (NBIX) on Wednesday reported first-quarter net income of $37.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Diego-based company said it had net income of 39 cents. Earnings, adjusted for non-recurring costs, came to 82 cents per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The biopharmaceutical company posted revenue of $237.1 million in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $218.9 million.

Neurocrine shares have decreased nearly 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $103.48, a climb of 30% 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

Automated Insights, source Associated Press News