Equities analysts forecast that Neurocrine Biosciences, Inc. (NASDAQ:NBIX) will post sales of $150.93 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Neurocrine Biosciences’ earnings, with the highest sales estimate coming in at $157.00 million and the lowest estimate coming in at $145.71 million. Neurocrine Biosciences reported sales of $60.77 million during the same quarter last year, which indicates a positive year over year growth rate of 148.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Neurocrine Biosciences will report full-year sales of $443.33 million for the current year, with estimates ranging from $427.80 million to $463.00 million. For the next year, analysts forecast that the company will post sales of $647.38 million per share, with estimates ranging from $574.34 million to $706.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Neurocrine Biosciences.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Tuesday, July 31st. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.11. The firm had revenue of $96.90 million for the quarter, compared to the consensus estimate of $84.11 million. Neurocrine Biosciences had a negative net margin of 16.07% and a negative return on equity of 14.22%. The company’s revenue was up 1428.4% on a year-over-year basis. During the same period last year, the firm earned ($0.68) EPS.
A number of analysts have issued reports on the stock. Oppenheimer set a $140.00 price target on shares of Neurocrine Biosciences and gave the company a “buy” rating in a report on Tuesday. ICAP dropped their price objective on shares of Neurocrine Biosciences from $140.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday. Cantor Fitzgerald initiated coverage on shares of Neurocrine Biosciences in a research note on Wednesday, August 22nd. They issued an “overweight” rating and a $150.00 price objective for the company. TheStreet raised shares of Neurocrine Biosciences from a “d+” rating to a “c” rating in a research note on Friday, August 3rd. Finally, Stifel Nicolaus initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, August 7th. They issued a “buy” rating and a $137.00 price objective for the company. Eighteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Neurocrine Biosciences currently has an average rating of “Buy” and a consensus target price of $120.47.
NASDAQ NBIX traded up $0.91 on Monday, reaching $122.07. The company had a trading volume of 17,840 shares, compared to its average volume of 517,571. The company has a debt-to-equity ratio of 1.00, a quick ratio of 9.19 and a current ratio of 9.19. The company has a market cap of $11.12 billion, a P/E ratio of -75.03, a P/E/G ratio of 35.00 and a beta of 0.42. Neurocrine Biosciences has a 12 month low of $55.95 and a 12 month high of $126.82.
In related news, insider Dimitri E. Grigoriadis sold 23,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $105.00, for a total transaction of $2,415,000.00. Following the completion of the transaction, the insider now directly owns 105,942 shares of the company’s stock, valued at approximately $11,123,910. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dimitri E. Grigoriadis sold 23,022 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $110.00, for a total transaction of $2,532,420.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,985 shares of company stock valued at $16,071,499. 4.30% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Neurocrine Biosciences by 0.5% in the 2nd quarter. FMR LLC now owns 13,451,201 shares of the company’s stock valued at $1,321,446,000 after buying an additional 60,325 shares during the period. BlackRock Inc. boosted its position in Neurocrine Biosciences by 2.8% in the 1st quarter. BlackRock Inc. now owns 4,908,495 shares of the company’s stock valued at $407,061,000 after buying an additional 132,749 shares during the period. Artisan Partners Limited Partnership boosted its position in Neurocrine Biosciences by 50.3% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,966,109 shares of the company’s stock valued at $163,049,000 after buying an additional 657,712 shares during the period. First Trust Advisors LP boosted its position in Neurocrine Biosciences by 5.6% in the 2nd quarter. First Trust Advisors LP now owns 979,671 shares of the company’s stock valued at $96,243,000 after buying an additional 52,200 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in Neurocrine Biosciences by 2.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 851,453 shares of the company’s stock valued at $83,647,000 after buying an additional 16,455 shares during the period.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.
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