Brokers Set Expectations for Neurocrine Biosciences, Inc.’s FY2017 Earnings (NBIX)
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at Jefferies Group lifted their FY2017 EPS estimates for shares of Neurocrine Biosciences in a report issued on Wednesday. Jefferies Group analyst B. Amin now anticipates that the company will post earnings of ($2.00) per share for the year, up from their previous estimate of ($2.57). Jefferies Group has a “Buy” rating and a $69.00 price target on the stock. Jefferies Group also issued estimates for Neurocrine Biosciences’ Q4 2017 earnings at ($0.21) EPS, FY2018 earnings at ($0.97) EPS, FY2019 earnings at $0.58 EPS, FY2020 earnings at $3.02 EPS and FY2021 earnings at $4.14 EPS.
A number of other equities analysts have also issued reports on the company. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $70.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 7th. ValuEngine raised Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $84.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, October 5th. Robert W. Baird reissued an “outperform” rating and set a $66.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, September 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $58.00 price objective on shares of Neurocrine Biosciences in a research note on Sunday, September 17th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $78.88.
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Neurocrine Biosciences (NASDAQ:NBIX) opened at $73.48 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 14.38 and a quick ratio of 14.37. Neurocrine Biosciences has a one year low of $37.35 and a one year high of $63.77.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.36. The business had revenue of $60.77 million during the quarter, compared to the consensus estimate of $29.38 million. During the same period last year, the company earned ($0.43) earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in NBIX. The Manufacturers Life Insurance Company lifted its stake in 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 purchasing an additional 193 shares during the period. ARS Investment Partners LLC bought a new position in Neurocrine Biosciences during the second quarter worth about $207,000. Stephens Inc. AR bought a new position in Neurocrine Biosciences during the second quarter worth about $207,000. Ardsley Advisory Partners bought a new position in Neurocrine Biosciences during the second quarter worth about $230,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Neurocrine Biosciences by 151.5% during the second quarter. Cubist Systematic Strategies LLC now owns 5,301 shares of the company’s stock worth $244,000 after purchasing an additional 3,193 shares during the period.
In related news, insider Haig P. Bozigian sold 26,250 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $1,575,000.00. Following the sale, the insider now directly owns 144,601 shares of the company’s stock, valued at $8,676,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher Flint Obrien sold 6,925 shares of Neurocrine Biosciences stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $61.04, for a total value of $422,702.00. Following the sale, the insider now directly owns 55,898 shares in the company, valued at $3,412,013.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,346 shares of company stock worth $5,879,150. 4.80% of the stock is owned by company insiders.
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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