Neurocrine Biosciences, Inc. to Post FY2018 Earnings of $0.12 Per Share, Oppenheimer Forecasts (NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Oppenheimer cut their FY2018 earnings estimates for shares of Neurocrine Biosciences in a research report issued on Monday, November 5th. Oppenheimer analyst J. Olson now expects that the company will earn $0.12 per share for the year, down from their prior forecast of $0.22. Oppenheimer has a “Buy” rating and a $140.00 price target on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ Q4 2018 earnings at $0.09 EPS, FY2021 earnings at $7.46 EPS and FY2022 earnings at $8.71 EPS.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $151.80 million during 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 firm’s quarterly revenue was up 149.7% on a year-over-year basis. During the same period last year, the company posted ($0.13) EPS.

NBIX has been the subject of a number of other reports. Stifel Nicolaus increased their price target on Neurocrine Biosciences from $137.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, September 20th. TheStreet raised Neurocrine Biosciences from a “d+” rating to a “c” rating in a research note on Friday, August 3rd. Jefferies Financial Group increased their price target on Neurocrine Biosciences to $124.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Piper Jaffray Companies set a $111.00 price target on Neurocrine Biosciences and gave the company a “buy” rating in a research note on Tuesday. Finally, Cantor Fitzgerald set a $150.00 price target on Neurocrine Biosciences and gave the company a “buy” rating in a research note on Thursday, September 20th. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $124.88.

Shares of NASDAQ NBIX opened at $105.41 on Thursday. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of -65.07, 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.

Several large investors have recently made changes to their positions in NBIX. FMR LLC lifted its holdings in shares of 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 in the last quarter. First Trust Advisors LP lifted its holdings in shares of 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 in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of 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 in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of 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 in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of 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 in the last quarter.

In other news, Director Richard F. Pops sold 5,500 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $107.13, for a total transaction of $589,215.00. Following the completion of the sale, the director now owns 37,759 shares in the company, valued at approximately $4,045,121.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $110.01, for a total value of $990,090.00. Following the sale, the insider now owns 21,018 shares of the company’s stock, valued at approximately $2,312,190.18. The disclosure for this sale can be found here. Insiders have sold a total of 29,500 shares of company stock valued at $3,295,455 in the last quarter. Insiders own 4.30% of the company’s stock.

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

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