Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Expected to Announce Earnings of -$0.49 Per Share

Brokerages expect Neurocrine Biosciences, Inc. (NASDAQ:NBIX) to report earnings of ($0.49) per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Neurocrine Biosciences’ earnings. The lowest EPS estimate is ($0.75) and the highest is ($0.28). Neurocrine Biosciences reported earnings of ($0.43) per share during the same quarter last year, which would indicate a negative year over year growth rate of 14%. The company is scheduled to report its next earnings results on Wednesday, November 1st.

On average, analysts expect that Neurocrine Biosciences will report full-year earnings of ($2.45) per share for the current fiscal year, with EPS estimates ranging from ($2.71) to ($1.94). For the next year, analysts forecast that the company will post earnings of ($1.79) per share, with EPS estimates ranging from ($2.54) to ($0.84). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Neurocrine Biosciences.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $0.01. The firm had revenue of $6.34 million for the quarter, compared to the consensus estimate of $0.61 million. During the same quarter in the previous year, the business earned ($0.46) EPS.

NBIX has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $58.00 target price (down previously from $62.00) on shares of Neurocrine Biosciences in a research note on Wednesday, May 24th. Jefferies Group LLC restated a “buy” rating and issued a $67.00 target price on shares of Neurocrine Biosciences in a research note on Monday, May 22nd. Bank of America Corporation restated a “buy” rating and issued a $70.00 target price on shares of Neurocrine Biosciences in a research note on Monday, May 15th. J P Morgan Chase & Co set a $60.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Finally, Piper Jaffray Companies set a $68.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seventeen have given a buy rating to the company. Neurocrine Biosciences currently has a consensus rating of “Buy” and a consensus price target of $68.25.

In related news, insider Haig P. Bozigian sold 22,500 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $50.00, for a total transaction of $1,125,000.00. Following the sale, the insider now directly owns 154,601 shares in the company, valued at $7,730,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Flint Obrien sold 8,734 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total value of $436,700.00. Following the sale, the insider now owns 57,707 shares in the company, valued at $2,885,350. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,194 shares of company stock worth $2,629,755. Corporate insiders own 4.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NBIX. Teacher Retirement System of Texas raised its position in Neurocrine Biosciences by 0.8% in the second quarter. Teacher Retirement System of Texas now owns 6,966 shares of the company’s stock valued at $320,000 after buying an additional 57 shares during the last quarter. Utah Retirement Systems raised its position in Neurocrine Biosciences by 1.9% in the second quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock valued at $736,000 after buying an additional 300 shares during the last quarter. Schroder Investment Management Group raised its position in Neurocrine Biosciences by 1.7% in the first quarter. Schroder Investment Management Group now owns 20,496 shares of the company’s stock valued at $856,000 after buying an additional 335 shares during the last quarter. First Mercantile Trust Co. raised its position in Neurocrine Biosciences by 22.2% in the first quarter. First Mercantile Trust Co. now owns 3,082 shares of the company’s stock valued at $133,000 after buying an additional 560 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Neurocrine Biosciences by 5.6% in the first quarter. Nuveen Asset Management LLC now owns 14,464 shares of the company’s stock valued at $626,000 after buying an additional 763 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

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Neurocrine Biosciences (NBIX) traded up 2.07% during mid-day trading on Wednesday, hitting $54.76. 555,385 shares of the stock were exchanged. Neurocrine Biosciences has a 1-year low of $37.35 and a 1-year high of $55.38. The stock has a 50 day moving average price of $47.37 and a 200 day moving average price of $46.32. The company’s market capitalization is $4.82 billion.

About Neurocrine Biosciences

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.

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