Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Equities researchers at Leerink Swann upped their FY2017 earnings per share (EPS) estimates for shares of Neurocrine Biosciences in a research report issued on Sunday. Leerink Swann analyst P. Matteis now anticipates that the company will earn ($1.47) per share for the year, up from their prior forecast of ($1.67). Leerink Swann currently has a “Outperform” rating and a $83.00 price target on the stock. Leerink Swann also issued estimates for Neurocrine Biosciences’ Q4 2017 earnings at $0.22 EPS, Q1 2018 earnings at ($0.07) EPS, Q2 2018 earnings at $0.03 EPS, Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.18 EPS, FY2018 earnings at $0.46 EPS and FY2019 earnings at $2.04 EPS.
Several other research analysts have also recently commented on the stock. BMO Capital Markets increased their target price on shares of Neurocrine Biosciences from $83.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Jefferies Group restated a “buy” rating and set a $69.00 target price (up previously from $66.00) on shares of Neurocrine Biosciences in a report on Tuesday, October 3rd. Oppenheimer set a $85.00 target price on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Tuesday, December 12th. Needham & Company LLC restated a “buy” rating and set a $86.00 target price on shares of Neurocrine Biosciences in a report on Thursday, November 2nd. Finally, Barclays increased their target price on shares of Neurocrine Biosciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $81.13.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, November 1st. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.36. The business had revenue of $60.77 million for the quarter, compared to analyst estimates of $29.38 million. During the same quarter in the previous year, the company posted ($0.43) EPS.
In other news, insider Darin Lippoldt sold 1,979 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $79.36, for a total value of $157,053.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary A. Lyons sold 10,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $72.92, for a total transaction of $729,200.00. Following the completion of the transaction, the director now directly owns 272,066 shares in the company, valued at $19,839,052.72. The disclosure for this sale can be found here. Insiders sold 116,405 shares of company stock worth $8,588,519 over the last three months. Insiders own 4.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in Neurocrine Biosciences by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after acquiring an additional 193 shares during the period. Utah Retirement Systems increased its position in Neurocrine Biosciences by 1.9% during the second quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock worth $736,000 after acquiring an additional 300 shares during the period. State Board of Administration of Florida Retirement System increased its position in Neurocrine Biosciences by 0.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 120,426 shares of the company’s stock worth $7,380,000 after acquiring an additional 810 shares during the period. American Century Companies Inc. increased its position in Neurocrine Biosciences by 2.7% during the second quarter. American Century Companies Inc. now owns 33,705 shares of the company’s stock worth $1,550,000 after acquiring an additional 886 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in Neurocrine Biosciences by 0.9% during the third quarter. Mutual of America Capital Management LLC now owns 112,862 shares of the company’s stock worth $6,916,000 after acquiring an additional 1,036 shares during the period.
Neurocrine Biosciences Company Profile
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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