Equities research analysts expect that Neurocrine Biosciences, Inc. (NASDAQ:NBIX) will announce sales of $165.23 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Neurocrine Biosciences’ earnings, with the lowest sales estimate coming in at $151.90 million and the highest estimate coming in at $181.30 million. Neurocrine Biosciences posted sales of $96.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 70.5%. The firm is scheduled to report its next earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Neurocrine Biosciences will report full-year sales of $677.99 million for the current financial year, with estimates ranging from $631.00 million to $755.94 million. For the next fiscal year, analysts expect that the firm will post sales of $966.00 million, with estimates ranging from $892.20 million to $1.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Neurocrine Biosciences.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Monday, April 29th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($0.07). Neurocrine Biosciences had a negative net margin of 7.56% and a negative return on equity of 9.14%. The firm had revenue of $138.40 million for the quarter, compared to analyst estimates of $136.77 million. During the same quarter in the previous year, the company earned ($0.47) EPS. The company’s quarterly revenue was up 94.7% compared to the same quarter last year.
NBIX has been the topic of several research reports. ValuEngine upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. BidaskClub cut Neurocrine Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $106.00 in a research note on Monday, April 22nd. Zacks Investment Research cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Guggenheim initiated coverage on Neurocrine Biosciences in a research note on Tuesday, June 4th. They set a “neutral” rating and a $88.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $102.16.
In related news, insider Haig P. Bozigian sold 19,297 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $85.02, for a total value of $1,640,630.94. Following the sale, the insider now directly owns 161,273 shares in the company, valued at approximately $13,711,430.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Haig P. Bozigian sold 66,667 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $80.13, for a total value of $5,342,026.71. Following the completion of the sale, the insider now owns 164,415 shares in the company, valued at $13,174,573.95. The disclosure for this sale can be found here. Insiders have sold a total of 142,732 shares of company stock worth $11,388,472 over the last quarter. Insiders own 4.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of NBIX. Kore Private Wealth LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $29,000. Acadian Asset Management LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $44,000. Quadrant Capital Group LLC increased its position in Neurocrine Biosciences by 9,242.9% in the 1st quarter. Quadrant Capital Group LLC now owns 654 shares of the company’s stock valued at $56,000 after acquiring an additional 647 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $81,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.
Shares of NASDAQ NBIX opened at $83.55 on Thursday. Neurocrine Biosciences has a 52-week low of $64.72 and a 52-week high of $126.98. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 379.77 and a beta of 1.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.61 and a current ratio of 8.79.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.
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