Research Analysts Set Expectations for Neurocrine Biosciences, Inc.’s FY2019 Earnings (NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Analysts at Oppenheimer upped their FY2019 earnings estimates for Neurocrine Biosciences in a research report issued on Wednesday. Oppenheimer analyst J. Olson now anticipates that the company will post earnings of $1.47 per share for the year, up from their prior estimate of $1.41. Oppenheimer currently has a “Buy” rating and a $100.00 target price on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ FY2021 earnings at $7.71 EPS and FY2022 earnings at $8.57 EPS.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Tuesday, February 13th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.11). The business had revenue of $94.52 million for the quarter, compared to analysts’ expectations of $94.00 million. During the same period last year, the firm posted ($0.51) EPS.

NBIX has been the subject of several other research reports. Jefferies Group boosted their target price on shares of Neurocrine Biosciences to $105.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Citigroup restated a “buy” rating and set a $79.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, November 2nd. Needham & Company LLC restated a “buy” rating and set a $86.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, November 2nd. Piper Jaffray Companies restated a “buy” rating and set a $76.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $79.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.53.

Neurocrine Biosciences (NASDAQ NBIX) traded up $0.19 during mid-day trading on Thursday, reaching $85.57. 1,009,500 shares of the company’s stock traded hands, compared to its average volume of 1,032,600. The company has a current ratio of 10.20, a quick ratio of 14.37 and a debt-to-equity ratio of 0.99. Neurocrine Biosciences has a 12-month low of $39.21 and a 12-month high of $91.82. The company has a market capitalization of $7,622.17, a price-to-earnings ratio of -52.63, a price-to-earnings-growth ratio of 6.67 and a beta of 0.26.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in Neurocrine Biosciences by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after buying an additional 193 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Neurocrine Biosciences by 0.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 120,426 shares of the company’s stock valued at $7,380,000 after buying an additional 810 shares in the last quarter. Amalgamated Bank grew its position in Neurocrine Biosciences by 5.7% in the 4th quarter. Amalgamated Bank now owns 17,484 shares of the company’s stock valued at $1,357,000 after buying an additional 947 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Neurocrine Biosciences by 0.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 112,862 shares of the company’s stock valued at $6,916,000 after buying an additional 1,036 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Neurocrine Biosciences by 25.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock valued at $458,000 after buying an additional 1,200 shares in the last quarter.

In related news, insider Dimitri E. Grigoriadis sold 86,368 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $78.32, for a total value of $6,764,341.76. Following the completion of the transaction, the insider now owns 154,717 shares in the company, valued at approximately $12,117,435.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary A. Lyons sold 10,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $72.92, for a total transaction of $729,200.00. Following the completion of the transaction, the director now owns 272,066 shares of the company’s stock, valued at approximately $19,839,052.72. The disclosure for this sale can be found here. Insiders sold a total of 337,950 shares of company stock valued at $26,613,876 in the last quarter. 4.80% of the stock is currently owned by insiders.

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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.

Earnings History and Estimates for Neurocrine Biosciences (NASDAQ:NBIX)

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