Neurocrine Biosciences, Inc. (NBIX) Forecasted to Earn FY2018 Earnings of ($1.31) Per Share
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at Jefferies Group raised their FY2018 earnings per share estimates for Neurocrine Biosciences in a report issued on Tuesday. Jefferies Group analyst B. Amin now anticipates that the company will post earnings of ($1.31) per share for the year, up from their prior estimate of ($1.43). Jefferies Group currently has a “Buy” rating and a $69.00 price target on the stock. Jefferies Group also issued estimates for Neurocrine Biosciences’ FY2019 earnings at $0.23 EPS, FY2020 earnings at $2.62 EPS and FY2021 earnings at $3.81 EPS.
NBIX has been the subject of several other reports. BMO Capital Markets boosted their target price on shares of Neurocrine Biosciences from $75.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Piper Jaffray Companies set a $68.00 target price on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research note on Thursday, August 24th. BidaskClub upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $58.00 target price on shares of Neurocrine Biosciences in a research note on Sunday, September 17th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $70.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, September 7th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $68.44.
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Shares of Neurocrine Biosciences (NASDAQ:NBIX) traded down 1.49% during mid-day trading on Thursday, hitting $61.63. 346,213 shares of the stock were exchanged. The stock’s 50-day moving average price is $56.66 and its 200-day moving average price is $50.28. The company’s market cap is $5.44 billion. Neurocrine Biosciences has a 52-week low of $37.35 and a 52-week high of $63.77.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.01). The firm had revenue of $6.34 million for the quarter, compared to analysts’ expectations of $0.61 million. During the same period in the previous year, the business posted ($0.46) earnings per share.
Several institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its holdings in shares of Neurocrine Biosciences by 0.8% during the second quarter. Teacher Retirement System of Texas now owns 6,966 shares of the company’s stock worth $320,000 after buying an additional 57 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Neurocrine Biosciences by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after buying an additional 193 shares in the last quarter. Utah Retirement Systems grew its holdings in shares of Neurocrine Biosciences by 1.9% during the second quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock worth $736,000 after buying an additional 300 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Neurocrine Biosciences by 1.7% during the first quarter. Schroder Investment Management Group now owns 20,496 shares of the company’s stock worth $856,000 after buying an additional 335 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Neurocrine Biosciences by 5.6% during the first quarter. Nuveen Asset Management LLC now owns 14,464 shares of the company’s stock worth $626,000 after buying an additional 763 shares in the last quarter.
In other news, insider Christopher Flint Obrien sold 6,925 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $61.04, for a total transaction of $422,702.00. Following the completion of the sale, the insider now owns 55,898 shares of the company’s stock, valued at $3,412,013.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Haig P. Bozigian sold 22,500 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $50.00, for a total transaction of $1,125,000.00. Following the sale, the insider now directly owns 154,601 shares of the company’s stock, valued at approximately $7,730,050. The disclosure for this sale can be found here. Insiders have sold 132,580 shares of company stock valued at $7,440,850 in the last ninety days. Insiders own 4.80% of the company’s stock.
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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