$25.17 Million in Sales Expected for Neurocrine Biosciences, Inc. (NBIX) This Quarter
Brokerages predict that Neurocrine Biosciences, Inc. (NASDAQ:NBIX) will report sales of $25.17 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Neurocrine Biosciences’ earnings, with the lowest sales estimate coming in at $19.00 million and the highest estimate coming in at $31.64 million. The business is scheduled to issue its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Neurocrine Biosciences will report full year sales of $25.17 million for the current fiscal year, with estimates ranging from $59.20 million to $81.12 million. For the next fiscal year, analysts anticipate that the firm will report sales of $165.12 million per share, with estimates ranging from $108.00 million to $203.53 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Neurocrine Biosciences.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly 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 business had revenue of $6.34 million during the quarter, compared to analysts’ expectations of $0.61 million. During the same period last year, the business posted ($0.46) earnings per share.
Several research analysts have weighed in on NBIX shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $69.00 target price (up from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday. BidaskClub raised Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. BMO Capital Markets increased their price objective on Neurocrine Biosciences from $75.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Piper Jaffray Companies set a $68.00 price objective on Neurocrine Biosciences and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $70.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, September 7th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $68.44.
In other Neurocrine Biosciences news, insider Dimitri E. Grigoriadis sold 15,354 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $55.00, for a total value of $844,470.00. Following the completion of the sale, the insider now owns 123,045 shares in the company, valued at approximately $6,767,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the insider now owns 57,707 shares of the company’s stock, valued at approximately $2,885,350. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,580 shares of company stock valued at $7,440,850. 4.80% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its position in shares of Neurocrine Biosciences by 0.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,966 shares of the company’s stock worth $320,000 after acquiring an additional 57 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Neurocrine Biosciences by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after acquiring an additional 193 shares during the period. Utah Retirement Systems lifted its position in shares of Neurocrine Biosciences by 1.9% in the 2nd quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock worth $736,000 after acquiring an additional 300 shares during the period. Schroder Investment Management Group lifted its position in shares of Neurocrine Biosciences by 1.7% in the 1st quarter. Schroder Investment Management Group now owns 20,496 shares of the company’s stock worth $856,000 after acquiring an additional 335 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in shares of Neurocrine Biosciences by 5.6% in the 1st quarter. Nuveen Asset Management LLC now owns 14,464 shares of the company’s stock worth $626,000 after acquiring an additional 763 shares during the period.
Neurocrine Biosciences (NASDAQ NBIX) traded down 0.22% during trading on Friday, reaching $62.41. The company’s stock had a trading volume of 91,480 shares. The stock’s market cap is $5.51 billion. Neurocrine Biosciences has a 52-week low of $37.35 and a 52-week high of $63.77. The firm’s 50-day moving average is $56.92 and its 200-day moving average is $50.37.
Neurocrine Biosciences Company Profile
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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