Zacks: Analysts Expect Neurocrine Biosciences, Inc. (NBIX) Will Post Quarterly Sales of $25.23 Million
Equities analysts predict that Neurocrine Biosciences, Inc. (NASDAQ:NBIX) will post sales of $25.23 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Neurocrine Biosciences’ earnings, with the highest sales estimate coming in at $31.64 million and the lowest estimate coming in at $19.00 million. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Neurocrine Biosciences will report full year sales of $25.23 million for the current financial year, with estimates ranging from $59.20 million to $81.12 million. For the next fiscal year, analysts anticipate that the company will report sales of $166.97 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 research firms that follow Neurocrine Biosciences.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.01). The business had revenue of $6.34 million for the quarter, compared to the consensus estimate of $0.61 million. During the same quarter in the previous year, the business posted ($0.46) EPS.
NBIX has been the topic of a number of recent analyst reports. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, July 5th. BMO Capital Markets boosted their price target on shares of Neurocrine Biosciences from $75.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Cowen and Company restated an “outperform” rating and issued a $65.00 price target (up previously from $60.00) on shares of Neurocrine Biosciences in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $68.00 price target on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $68.81.
In other Neurocrine Biosciences 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 transaction, the insider now owns 55,898 shares in the company, valued at $3,412,013.92. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction, the insider now owns 154,601 shares in the company, valued at approximately $7,730,050. The disclosure for this sale can be found here. Insiders have sold a total of 132,580 shares of company stock worth $7,440,850 in the last quarter. 4.80% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its holdings in Neurocrine Biosciences by 49.7% during the second quarter. Canada Pension Plan Investment Board now owns 24,700 shares of the company’s stock worth $1,136,000 after buying an additional 8,200 shares during the last quarter. BlackRock Inc. raised its holdings in Neurocrine Biosciences by 14,216.0% during the first quarter. BlackRock Inc. now owns 5,031,933 shares of the company’s stock worth $217,884,000 after buying an additional 4,996,784 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Neurocrine Biosciences during the first quarter worth $4,330,000. Schwab Charles Investment Management Inc. raised its holdings in Neurocrine Biosciences by 8.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 346,906 shares of the company’s stock worth $15,022,000 after buying an additional 27,245 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in Neurocrine Biosciences during the second quarter worth $15,981,000. Hedge funds and other institutional investors own 96.27% of the company’s stock.
Shares of Neurocrine Biosciences (NBIX) opened at 58.53 on Tuesday. The firm has a 50-day moving average of $59.48 and a 200 day moving average of $52.12. Neurocrine Biosciences has a 12-month low of $37.35 and a 12-month high of $63.77. The firm’s market capitalization is $5.16 billion.
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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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