Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Investment analysts at Piper Jaffray Companies increased their FY2018 earnings estimates for Neurocrine Biosciences in a research note issued to investors on Monday, November 5th. Piper Jaffray Companies analyst D. Amsellem now expects that the company will post earnings of $0.14 per share for the year, up from their prior forecast of $0.12. Piper Jaffray Companies has a “Buy” rating and a $111.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Neurocrine Biosciences’ Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.52 EPS, Q4 2019 earnings at $0.64 EPS, FY2019 earnings at $1.85 EPS, FY2020 earnings at $4.47 EPS, FY2021 earnings at $5.73 EPS and FY2022 earnings at $8.15 EPS.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $151.80 million for the quarter, compared to analyst estimates of $151.51 million. Neurocrine Biosciences had a return on equity of 2.54% and a net margin of 2.40%. The business’s quarterly revenue was up 149.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) earnings per share.
Shares of NBIX stock opened at $108.31 on Wednesday. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of -66.86, a PEG ratio of 38.23 and a beta of 0.94. Neurocrine Biosciences has a 1 year low of $67.32 and a 1 year high of $126.98.
A number of large investors have recently made changes to their positions in the stock. FMR LLC lifted its position in Neurocrine Biosciences by 0.5% in the second quarter. FMR LLC now owns 13,451,201 shares of the company’s stock valued at $1,321,446,000 after purchasing an additional 60,325 shares during the period. First Trust Advisors LP lifted its position in Neurocrine Biosciences by 4.2% in the third quarter. First Trust Advisors LP now owns 1,020,857 shares of the company’s stock valued at $125,514,000 after purchasing an additional 41,186 shares during the period. OppenheimerFunds Inc. lifted its position in Neurocrine Biosciences by 2.0% in the second quarter. OppenheimerFunds Inc. now owns 851,453 shares of the company’s stock valued at $83,647,000 after purchasing an additional 16,455 shares during the period. Macquarie Group Ltd. lifted its position in Neurocrine Biosciences by 8.2% in the second quarter. Macquarie Group Ltd. now owns 834,149 shares of the company’s stock valued at $81,947,000 after purchasing an additional 62,979 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Neurocrine Biosciences by 60.5% in the third quarter. Victory Capital Management Inc. now owns 605,135 shares of the company’s stock valued at $74,402,000 after purchasing an additional 228,163 shares during the period.
In related news, Director Richard F. Pops sold 5,500 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $107.13, for a total value of $589,215.00. Following the completion of the sale, the director now owns 37,759 shares in the company, valued at $4,045,121.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary A. Lyons sold 15,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $114.41, for a total transaction of $1,716,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,500 shares of company stock valued at $3,295,455. 4.30% of the stock is owned by insiders.
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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