Wall Street brokerages predict that Neurocrine Biosciences (NASDAQ:NBIX) will post $86.98 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Neurocrine Biosciences’ earnings, with estimates ranging from $79.42 million to $100.78 million. Neurocrine Biosciences reported sales of $6.34 million in the same quarter last year, which indicates a positive year over year growth rate of 1,271.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 2nd.
On average, analysts expect that Neurocrine Biosciences will report full-year sales of $397.95 million for the current year, with estimates ranging from $327.30 million to $431.10 million. For the next year, analysts anticipate that the firm will report sales of $626.83 million per share, with estimates ranging from $530.19 million to $680.87 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Neurocrine Biosciences.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Monday, April 30th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.18). Neurocrine Biosciences had a negative net margin of 45.56% and a negative return on equity of 29.67%. The company had revenue of $71.08 million for the quarter, compared to analysts’ expectations of $65.17 million. During the same quarter in the prior year, the firm earned ($0.90) EPS.
A number of brokerages have weighed in on NBIX. BidaskClub upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Friday, May 18th. ValuEngine upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Monday, May 14th. Oppenheimer set a $120.00 price objective on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Monday, May 14th. Cowen restated a “buy” rating and issued a $100.00 price objective on shares of Neurocrine Biosciences in a report on Monday, May 7th. Finally, Bank of America upped their price objective on shares of Neurocrine Biosciences from $101.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, May 1st. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Neurocrine Biosciences currently has an average rating of “Buy” and an average price target of $102.77.
NBIX traded down $0.44 during midday trading on Tuesday, reaching $94.20. The company’s stock had a trading volume of 353,019 shares, compared to its average volume of 780,459. The stock has a market cap of $8.46 billion, a PE ratio of -58.15 and a beta of 0.32. The company has a debt-to-equity ratio of 1.03, a quick ratio of 11.06 and a current ratio of 11.06. Neurocrine Biosciences has a 1 year low of $41.76 and a 1 year high of $95.48.
In other Neurocrine Biosciences news, Director Corinne H. Nevinny sold 5,000 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $83.13, for a total value of $415,650.00. Following the transaction, the director now directly owns 43,283 shares in the company, valued at $3,598,115.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Charles Gorman sold 126,832 shares of the stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $80.75, for a total transaction of $10,241,684.00. Following the completion of the transaction, the chief executive officer now owns 473,865 shares in the company, valued at $38,264,598.75. The disclosure for this sale can be found here. Insiders sold 207,705 shares of company stock worth $17,485,904 over the last quarter. Insiders own 4.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC increased its stake in shares of Neurocrine Biosciences by 7.5% in the fourth quarter. Perceptive Advisors LLC now owns 5,151,589 shares of the company’s stock worth $399,712,000 after purchasing an additional 360,000 shares in the last quarter. BlackRock Inc. increased its stake in shares of Neurocrine Biosciences by 2.8% in the first quarter. BlackRock Inc. now owns 4,908,495 shares of the company’s stock worth $407,061,000 after purchasing an additional 132,749 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 0.9% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,370,050 shares of the company’s stock worth $183,892,000 after purchasing an additional 21,950 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Neurocrine Biosciences by 50.3% in the first quarter. Artisan Partners Limited Partnership now owns 1,966,109 shares of the company’s stock worth $163,049,000 after purchasing an additional 657,712 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Neurocrine Biosciences by 2.1% in the fourth quarter. Wells Fargo & Company MN now owns 965,449 shares of the company’s stock worth $74,909,000 after purchasing an additional 20,081 shares in the last quarter.
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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