FY2017 EPS Estimates for Neurocrine Biosciences, Inc. (NBIX) Increased by Analyst
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at Oppenheimer lifted their FY2017 earnings estimates for shares of Neurocrine Biosciences in a note issued to investors on Monday. Oppenheimer analyst J. Olson now forecasts that the company will earn ($1.40) per share for the year, up from their prior forecast of ($1.59). Oppenheimer currently has a “Buy” rating and a $95.00 price target on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ Q4 2017 earnings at $0.28 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $1.08 EPS, FY2019 earnings at $1.41 EPS, FY2020 earnings at $5.44 EPS and FY2022 earnings at $8.56 EPS.
A number of other analysts also recently issued reports on NBIX. Robert W. Baird reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, September 21st. Jefferies Group reaffirmed a “buy” rating and issued a $69.00 target price (up previously from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $84.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 5th. Leerink Swann reaffirmed an “outperform” rating and issued a $72.00 target price (up previously from $67.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 10th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $76.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Neurocrine Biosciences currently has a consensus rating of “Buy” and a consensus price target of $82.31.
Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results 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 firm had revenue of $60.77 million during the quarter, compared to analyst estimates of $29.38 million. During the same period in the prior year, the business earned ($0.43) EPS.
A number of institutional investors have recently bought and sold shares of NBIX. The Manufacturers Life Insurance Company grew its holdings 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. Crow Point Partners LLC bought a new position in Neurocrine Biosciences during the fourth quarter worth about $145,000. Stephens Inc. AR bought a new position in Neurocrine Biosciences during the second quarter worth about $207,000. Comerica Bank bought a new position in Neurocrine Biosciences during the third quarter worth about $210,000. Finally, Ardsley Advisory Partners bought a new position in Neurocrine Biosciences during the second quarter worth about $230,000.
In related news, insider Darin Lippoldt sold 15,237 shares of Neurocrine Biosciences stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $75.00, for a total transaction of $1,142,775.00. Following the completion of the transaction, the insider now owns 28,394 shares in the company, valued at $2,129,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dimitri E. Grigoriadis sold 30,000 shares of Neurocrine Biosciences 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 transaction, the insider now owns 77,691 shares of the company’s stock, valued at approximately $5,794,194.78. The disclosure for this sale can be found here. Insiders have sold 116,405 shares of company stock valued at $8,588,519 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.
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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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