Neurocrine Biosciences, Inc. (NBIX) Forecasted to Post Q1 2018 Earnings of ($0.16) Per Share
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at Oppenheimer issued their Q1 2018 earnings estimates for shares of Neurocrine Biosciences in a research note issued to investors on Monday. Oppenheimer analyst J. Olson anticipates that the company will post earnings per share of ($0.16) for the quarter. Oppenheimer currently has a “Buy” rating and a $95.00 price target on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.26 EPS and FY2021 earnings at $7.36 EPS.
NBIX has been the topic of several other reports. Robert W. Baird reiterated a “buy” rating and set a $84.00 target price on shares of Neurocrine Biosciences in a research report on Friday, November 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $76.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, October 25th. Deutsche Bank reiterated a “buy” rating and set a $79.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, November 2nd. Jefferies Group reiterated a “buy” rating and set a $69.00 target price (up from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $84.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 5th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $82.31.
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, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.36. The company had revenue of $60.77 million during the quarter, compared to analysts’ expectations of $29.38 million. During the same quarter in the prior year, the company earned ($0.43) earnings per share.
Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its stake in shares of Neurocrine Biosciences by 457.9% in the fourth quarter. Bank of Montreal Can now owns 10,767 shares of the company’s stock valued at $835,000 after buying an additional 8,837 shares in the last quarter. Crow Point Partners LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $145,000. AXA grew its stake in Neurocrine Biosciences by 62.7% during the 3rd quarter. AXA now owns 147,858 shares of the company’s stock valued at $9,061,000 after purchasing an additional 56,972 shares in the last quarter. California Public Employees Retirement System grew its stake in Neurocrine Biosciences by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 181,900 shares of the company’s stock valued at $11,147,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Davidson Kempner Capital Management LP grew its stake in Neurocrine Biosciences by 50.8% during the 3rd quarter. Davidson Kempner Capital Management LP now owns 119,300 shares of the company’s stock valued at $7,311,000 after purchasing an additional 40,200 shares in the last quarter.
In other news, insider Dimitri E. Grigoriadis sold 30,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $74.58, for a total value of $2,237,400.00. Following the completion of the sale, the insider now owns 77,691 shares in the company, valued at $5,794,194.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Darin Lippoldt sold 1,979 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $79.36, for a total value of $157,053.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,405 shares of company stock worth $8,588,519. Company insiders own 4.80% of the company’s stock.
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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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