Oppenheimer Equities Analysts Cut Earnings Estimates for Neurocrine Biosciences, Inc. (NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Oppenheimer cut their Q1 2018 earnings estimates for shares of Neurocrine Biosciences in a research report issued on Wednesday. Oppenheimer analyst J. Olson now expects that the company will earn ($0.28) per share for the quarter, down from their prior forecast of ($0.16). Oppenheimer has a “Buy” rating and a $100.00 price target on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ Q2 2018 earnings at ($0.18) EPS, Q3 2018 earnings at ($0.01) EPS, Q4 2018 earnings at $0.43 EPS, FY2018 earnings at ($0.02) EPS and FY2020 earnings at $5.08 EPS.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.11). The business had revenue of $94.52 million for the quarter, compared to analysts’ expectations of $94.00 million. During the same quarter last year, the company earned ($0.51) earnings per share.

Several other brokerages have also recently weighed in on NBIX. Needham & Company LLC upped their price objective on shares of Neurocrine Biosciences to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Deutsche Bank upped their price objective on shares of Neurocrine Biosciences to $97.00 and gave the stock a “buy” rating in a research note on Wednesday. Leerink Swann reaffirmed an “outperform” rating and set a $83.00 price objective (up from $72.00) on shares of Neurocrine Biosciences in a research note on Thursday, November 2nd. BidaskClub raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 31st. Finally, Barclays upped their price objective on shares of Neurocrine Biosciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $88.79.

Shares of Neurocrine Biosciences (NASDAQ:NBIX) opened at $85.25 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 14.37 and a current ratio of 10.20. The firm has a market cap of $7,520.00, a PE ratio of -52.30, a price-to-earnings-growth ratio of 280.14 and a beta of 0.26. Neurocrine Biosciences has a 52 week low of $39.21 and a 52 week high of $91.82.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of Neurocrine Biosciences by 29.0% during the third quarter. First Trust Advisors LP now owns 782,685 shares of the company’s stock valued at $47,963,000 after purchasing an additional 176,136 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Neurocrine Biosciences by 2.6% during the third quarter. Janus Henderson Group PLC now owns 5,507,763 shares of the company’s stock valued at $337,516,000 after purchasing an additional 140,639 shares during the last quarter. Davidson Kempner Capital Management LP bought a new stake in shares of Neurocrine Biosciences during the second quarter valued at approximately $3,639,000. State Street Corp grew its stake in shares of Neurocrine Biosciences by 5.1% during the second quarter. State Street Corp now owns 2,710,196 shares of the company’s stock valued at $124,666,000 after purchasing an additional 131,141 shares during the last quarter. Finally, Moody Aldrich Partners LLC grew its stake in shares of Neurocrine Biosciences by 13.2% during the third quarter. Moody Aldrich Partners LLC now owns 22,256 shares of the company’s stock valued at $1,364,000 after purchasing an additional 2,591 shares during the last quarter.

In other news, Director Gary A. Lyons sold 10,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $72.92, for a total transaction of $729,200.00. Following the sale, the director now directly owns 272,066 shares of the company’s stock, valued at $19,839,052.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Rastetter sold 9,500 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $855,000.00. Following the sale, the director now directly owns 34,250 shares in the company, valued at $3,082,500. The disclosure for this sale can be found here. Insiders have sold 337,950 shares of company stock worth $26,613,876 over the last three months. 4.80% of the stock is owned by insiders.

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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.

Earnings History and Estimates for Neurocrine Biosciences (NASDAQ:NBIX)

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