Research Analysts Set Expectations for Neurocrine Biosciences, Inc.’s Q3 2018 Earnings (NBIX)
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Research analysts at Oppenheimer increased their Q3 2018 earnings per share estimates for Neurocrine Biosciences in a research report issued on Tuesday, September 4th. Oppenheimer analyst J. Olson now expects that the company will post earnings of $0.47 per share for the quarter, up from their previous estimate of $0.45. Oppenheimer currently has a “Buy” rating and a $140.00 target price on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ Q4 2018 earnings at $0.25 EPS and FY2018 earnings at $0.22 EPS.
Other equities analysts have also recently issued research reports about the stock. Barclays set a $100.00 price objective on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Friday, June 8th. BidaskClub cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Needham & Company LLC set a $125.00 price objective on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Wednesday, August 1st. HC Wainwright reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, August 1st. Finally, Jefferies Financial Group lifted their price objective on shares of Neurocrine Biosciences to $124.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Eighteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $120.47.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Tuesday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.11. The company had revenue of $96.90 million for the quarter, compared to analysts’ expectations of $84.11 million. Neurocrine Biosciences had a negative net margin of 16.07% and a negative return on equity of 14.22%. The business’s revenue was up 1428.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.68) EPS.
In other Neurocrine Biosciences news, insider Dimitri E. Grigoriadis sold 86,963 shares of the firm’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $99.48, for a total value of $8,651,079.24. Following the completion of the transaction, the insider now directly owns 146,905 shares in the company, valued at $14,614,109.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen A. Sherwin sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $98.44, for a total transaction of $984,400.00. Following the completion of the transaction, the director now owns 47,548 shares of the company’s stock, valued at $4,680,625.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,985 shares of company stock valued at $16,071,499. Corporate insiders own 4.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 643.7% during the second quarter. Meeder Asset Management Inc. now owns 1,123 shares of the company’s stock worth $110,000 after purchasing an additional 972 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Neurocrine Biosciences by 103.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,016 shares of the company’s stock worth $167,000 after purchasing an additional 1,025 shares during the period. Commonwealth Equity Services LLC acquired a new stake in shares of Neurocrine Biosciences during the second quarter worth approximately $203,000. NumerixS Investment Technologies Inc boosted its holdings in shares of Neurocrine Biosciences by 90.9% during the second quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the company’s stock worth $204,000 after purchasing an additional 1,000 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Neurocrine Biosciences during the second quarter worth approximately $214,000.
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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