Neurocrine Biosciences, Inc. to Post FY2019 Earnings of $0.13 Per Share, Jefferies Group Forecasts (NASDAQ:NBIX)
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Stock analysts at Jefferies Group dropped their FY2019 earnings per share (EPS) estimates for Neurocrine Biosciences in a note issued to investors on Thursday. Jefferies Group analyst B. Amin now forecasts that the company will post earnings of $0.13 per share for the year, down from their prior forecast of $0.19. Jefferies Group has a “Buy” rating and a $66.00 price target on the stock. Jefferies Group also issued estimates for Neurocrine Biosciences’ FY2020 earnings at $2.49 EPS and FY2021 earnings at $3.73 EPS.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.01. The business had revenue of $6.34 million during the quarter, compared to the consensus estimate of $0.61 million. During the same quarter last year, the firm posted ($0.46) earnings per share.
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A number of other brokerages have also weighed in on NBIX. Barclays PLC lifted their price target on shares of Neurocrine Biosciences from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 2nd. Bank of America Corporation reiterated a “buy” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a report on Monday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 17th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $80.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $72.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $68.25.
Shares of Neurocrine Biosciences (NASDAQ NBIX) opened at 52.275 on Monday. Neurocrine Biosciences has a 12 month low of $37.35 and a 12 month high of $55.38. The stock’s market cap is $4.60 billion. The firm has a 50-day moving average price of $46.79 and a 200-day moving average price of $46.23.
A number of large investors have recently added to or reduced their stakes in NBIX. Dimensional Fund Advisors LP increased its stake in Neurocrine Biosciences by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 165,953 shares of the company’s stock valued at $6,422,000 after buying an additional 4,428 shares during the period. Teachers Advisors LLC increased its stake in Neurocrine Biosciences by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 78,287 shares of the company’s stock valued at $3,030,000 after buying an additional 4,668 shares during the period. Capstone Asset Management Co. purchased a new stake in Neurocrine Biosciences during the first quarter valued at about $214,000. Quantitative Systematic Strategies LLC purchased a new stake in Neurocrine Biosciences during the first quarter valued at about $261,000. Finally, Columbus Circle Investors increased its stake in Neurocrine Biosciences by 33.3% in the first quarter. Columbus Circle Investors now owns 207,699 shares of the company’s stock valued at $8,993,000 after buying an additional 51,872 shares during the period. 96.48% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Malcolm Lloyd-Smith sold 9,960 shares of Neurocrine Biosciences stock in a transaction on Friday, May 19th. The shares were sold at an average price of $53.63, for a total transaction of $534,154.80. Following the sale, the insider now owns 17,997 shares of the company’s stock, valued at approximately $965,179.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dimitri E. Grigoriadis sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $53.39, for a total transaction of $533,900.00. Following the sale, the insider now directly owns 107,691 shares in the company, valued at approximately $5,749,622.49. The disclosure for this sale can be found here. Insiders have sold a total of 28,694 shares of company stock worth $1,504,755 in the last ninety days. 4.80% of the stock is currently owned by insiders.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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