Zacks Investment Research Research Analysts Raise Earnings Estimates for Neurocrine Biosciences, Inc. (NBIX)
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Analysts at Zacks Investment Research increased their FY2017 EPS estimates for shares of Neurocrine Biosciences in a report released on Thursday. Zacks Investment Research analyst D. Bautz now expects that the company will post earnings of ($1.75) per share for the year, up from their prior estimate of ($2.61). Zacks Investment Research also issued estimates for Neurocrine Biosciences’ Q4 2017 earnings at ($0.06) EPS and FY2018 earnings at ($1.05) EPS.
A number of other analysts have also recently commented on the company. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, September 7th. Jefferies Group LLC reissued a “buy” rating and set a $69.00 price target (up from $66.00) on shares of Neurocrine Biosciences in a research note on Tuesday, October 3rd. ValuEngine upgraded Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets restated an “outperform” rating and set a $84.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 5th. Finally, Robert W. Baird restated an “outperform” rating and set a $66.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.88.
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Shares of Neurocrine Biosciences (NBIX) opened at $74.53 on Monday. The company has a quick ratio of 14.37, a current ratio of 14.38 and a debt-to-equity ratio of 1.05. Neurocrine Biosciences has a 1 year low of $37.35 and a 1 year high of $75.22.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, November 1st. The company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.36. The business 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 firm earned ($0.43) EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. The Manufacturers Life Insurance Company increased its holdings in Neurocrine Biosciences by 7.8% during the 2nd 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 purchased a new position in Neurocrine Biosciences during the 2nd quarter worth $207,000. Stephens Inc. AR purchased a new position in Neurocrine Biosciences during the 2nd quarter worth $207,000. Comerica Bank purchased a new position in Neurocrine Biosciences during the 3rd quarter worth $210,000. Finally, Ardsley Advisory Partners purchased a new position in Neurocrine Biosciences during the 2nd quarter worth $230,000.
In other news, insider Christopher Flint Obrien sold 52,817 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $57.50, for a total value of $3,036,977.50. Following the sale, the insider now directly owns 101,790 shares in the company, valued at $5,852,925. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kyle Gano sold 24,818 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $71.05, for a total value of $1,763,318.90. Following the completion of the sale, the insider now owns 84,596 shares in the company, valued at $6,010,545.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,810 shares of company stock worth $6,797,998. Company insiders own 4.80% of the company’s stock.
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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