Zacks: Analysts Anticipate Neurocrine Biosciences, Inc. (NBIX) Will Announce Earnings of -$0.50 Per Share
Analysts predict that Neurocrine Biosciences, Inc. (NASDAQ:NBIX) will report ($0.50) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Neurocrine Biosciences’ earnings, with estimates ranging from ($0.75) to ($0.15). Neurocrine Biosciences posted earnings of ($0.43) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 16.3%. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Neurocrine Biosciences will report full year earnings of ($2.43) per share for the current year, with EPS estimates ranging from ($2.61) to ($1.94). For the next financial year, analysts expect that the firm will post earnings of ($1.86) per share, with EPS estimates ranging from ($2.54) to ($0.84). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Neurocrine Biosciences.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, August 3rd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.01). The firm had revenue of $6.34 million during the quarter, compared to analyst estimates of $0.61 million. During the same quarter in the prior year, the firm earned ($0.46) earnings per share.
A number of research firms have commented on NBIX. Cowen and Company reaffirmed an “outperform” rating and set a $65.00 target price (up previously from $60.00) on shares of Neurocrine Biosciences in a report on Wednesday, August 9th. Piper Jaffray Companies set a $68.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, May 24th. BMO Capital Markets increased their target price on Neurocrine Biosciences from $75.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. BidaskClub raised Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. set a $70.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, May 24th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $68.25.
Shares of Neurocrine Biosciences (NASDAQ NBIX) traded up 0.72% on Friday, hitting $57.32. The stock had a trading volume of 184,027 shares. Neurocrine Biosciences has a 12-month low of $37.35 and a 12-month high of $60.00. The firm’s market capitalization is $5.06 billion. The company has a 50 day moving average of $53.72 and a 200-day moving average of $48.84.
In related news, insider Christopher Flint Obrien sold 8,734 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $436,700.00. Following the sale, the insider now directly owns 57,707 shares in the company, valued at approximately $2,885,350. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Haig P. Bozigian sold 26,250 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $1,575,000.00. Following the completion of the sale, the insider now owns 144,601 shares in the company, valued at $8,676,060. The disclosure for this sale can be found here. Insiders have sold a total of 125,655 shares of company stock worth $7,018,148 over the last quarter. Insiders own 4.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of NBIX. Janus Henderson Group PLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at approximately $246,888,000. BlackRock Inc. increased its position in Neurocrine Biosciences by 14,216.0% in the 1st quarter. BlackRock Inc. now owns 5,031,933 shares of the company’s stock valued at $217,884,000 after acquiring an additional 4,996,784 shares during the period. Wellington Management Group LLP increased its position in Neurocrine Biosciences by 554.4% in the 1st quarter. Wellington Management Group LLP now owns 2,407,376 shares of the company’s stock valued at $104,240,000 after acquiring an additional 2,039,509 shares during the period. Janus Capital Management LLC increased its position in Neurocrine Biosciences by 85.0% in the 1st quarter. Janus Capital Management LLC now owns 4,359,384 shares of the company’s stock valued at $188,759,000 after acquiring an additional 2,002,899 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in Neurocrine Biosciences by 299.4% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,315,373 shares of the company’s stock valued at $106,507,000 after acquiring an additional 1,735,700 shares during the period.
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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