Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Oppenheimer Holdings upped their FY2017 EPS estimates for Neurocrine Biosciences in a research note issued on Thursday, Zacks Investment Research reports. Oppenheimer Holdings analyst J. Olson now forecasts that the company will post earnings per share of ($1.59) for the year, up from their previous estimate of ($2.38). Oppenheimer Holdings currently has a “Buy” rating and a $85.00 price target on the stock. Oppenheimer Holdings also issued estimates for Neurocrine Biosciences’ Q4 2017 earnings at $0.11 EPS, FY2018 earnings at ($0.36) EPS, FY2019 earnings at $0.97 EPS, FY2020 earnings at $3.96 EPS and FY2021 earnings at $6.81 EPS.
A number of other brokerages also recently issued reports on NBIX. Robert W. Baird reissued an “outperform” rating and set a $66.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, September 21st. Jefferies Group LLC reissued a “buy” rating and set a $69.00 price objective (up from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. Leerink Swann reissued an “outperform” rating and set a $83.00 price objective (up from $72.00) on shares of Neurocrine Biosciences in a research report on Thursday, November 2nd. Cowen and Company reissued an “outperform” rating and set a $65.00 price objective (up from $60.00) on shares of Neurocrine Biosciences in a research report on Wednesday, August 9th. Finally, Barclays PLC boosted their target price on shares of Neurocrine Biosciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Neurocrine Biosciences presently has an average rating of “Buy” and a consensus price target of $78.88.
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Neurocrine Biosciences (NBIX) opened at $74.17 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 14.38 and a quick ratio of 14.37. Neurocrine Biosciences has a 1 year low of $37.35 and a 1 year high of $75.98.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.36. The company had revenue of $60.77 million for the quarter, compared to analysts’ expectations of $29.38 million. During the same period in the previous year, the firm posted ($0.43) earnings per share.
In related news, insider Christopher Flint Obrien sold 52,817 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $57.50, for a total value of $3,036,977.50. Following the transaction, the insider now owns 101,790 shares in the company, valued at approximately $5,852,925. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dimitri E. Grigoriadis sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the transaction, the insider now owns 77,691 shares in the company, valued at approximately $5,794,194.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,810 shares of company stock worth $9,035,398. 4.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NBIX. The Manufacturers Life Insurance Company lifted its stake in Neurocrine Biosciences by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after acquiring an additional 193 shares during the period. ARS Investment Partners LLC bought a new position in Neurocrine Biosciences during the 2nd quarter valued at about $207,000. Stephens Inc. AR bought a new position in Neurocrine Biosciences during the 2nd quarter valued at about $207,000. Comerica Bank bought a new position in Neurocrine Biosciences during the 3rd quarter valued at about $210,000. Finally, Ardsley Advisory Partners bought a new position in Neurocrine Biosciences during the 2nd quarter valued at about $230,000.
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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