Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities research analysts at Oppenheimer dropped their FY2019 earnings per share (EPS) estimates for Neurocrine Biosciences in a research note issued on Monday, November 5th. Oppenheimer analyst J. Olson now anticipates that the company will post earnings of $1.60 per share for the year, down from their prior estimate of $1.65. Oppenheimer currently has a “Buy” rating and a $140.00 target price on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ FY2020 earnings at $5.20 EPS.
Other equities analysts also recently issued reports about the stock. Stifel Nicolaus started coverage on shares of Neurocrine Biosciences in a report on Tuesday, August 7th. They issued a “buy” rating and a $137.00 price target on the stock. Piper Jaffray Companies set a $111.00 price objective on Neurocrine Biosciences and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley lowered their price objective on Neurocrine Biosciences from $145.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday. Jefferies Financial Group boosted their price objective on Neurocrine Biosciences to $124.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Finally, TheStreet upgraded Neurocrine Biosciences from a “d+” rating to a “c” rating in a research note on Friday, August 3rd. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $124.88.
Shares of NASDAQ:NBIX opened at $106.49 on Wednesday. The company has a current ratio of 9.19, a quick ratio of 9.19 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $10.48 billion, a P/E ratio of -65.73, a P/E/G ratio of 37.22 and a beta of 0.94. Neurocrine Biosciences has a fifty-two week low of $67.32 and a fifty-two week high of $126.98.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The company had revenue of $151.80 million for the quarter, compared to the consensus estimate of $151.51 million. Neurocrine Biosciences had a negative net margin of 16.07% and a negative return on equity of 14.22%. The firm’s quarterly revenue was up 149.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) EPS.
Several institutional investors and hedge funds have recently made changes to their positions in NBIX. Victory Capital Management Inc. increased its position in shares of Neurocrine Biosciences by 60.5% during the third quarter. Victory Capital Management Inc. now owns 605,135 shares of the company’s stock valued at $74,402,000 after buying an additional 228,163 shares during the period. Braun Stacey Associates Inc. bought a new stake in shares of Neurocrine Biosciences during the second quarter valued at about $14,333,000. Mainstay Capital Management LLC ADV increased its position in shares of Neurocrine Biosciences by 3,156.2% during the second quarter. Mainstay Capital Management LLC ADV now owns 134,970 shares of the company’s stock valued at $1,624,000 after buying an additional 130,825 shares during the period. Boston Advisors LLC increased its position in shares of Neurocrine Biosciences by 571.3% during the second quarter. Boston Advisors LLC now owns 131,481 shares of the company’s stock valued at $12,917,000 after buying an additional 111,896 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Neurocrine Biosciences by 14.0% during the second quarter. American Century Companies Inc. now owns 566,895 shares of the company’s stock valued at $55,692,000 after buying an additional 69,701 shares during the period.
In related news, Director Richard F. Pops sold 5,500 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $107.13, for a total value of $589,215.00. Following the sale, the director now directly owns 37,759 shares in the company, valued at approximately $4,045,121.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary A. Lyons sold 15,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $114.41, for a total value of $1,716,150.00. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
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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