Neurocrine Biosciences Forecasted to Post Q2 2018 Earnings of ($0.19) Per Share (NBIX)

Neurocrine Biosciences (NASDAQ:NBIX) – Investment analysts at Oppenheimer reduced their Q2 2018 earnings per share (EPS) estimates for shares of Neurocrine Biosciences in a report released on Tuesday, April 10th. Oppenheimer analyst J. Olson now forecasts that the company will post earnings of ($0.19) per share for the quarter, down from their prior forecast of ($0.18). Oppenheimer has a “Buy” rating and a $110.00 price objective on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ Q3 2018 earnings at ($0.02) EPS, FY2018 earnings at ($0.14) EPS, FY2020 earnings at $4.99 EPS, FY2021 earnings at $7.60 EPS and FY2022 earnings at $8.58 EPS.

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NBIX has been the subject of a number of other reports. Jefferies Group upped their price objective on shares of Neurocrine Biosciences to $105.00 and gave the company a “buy” rating in a research report on Friday, January 5th. JPMorgan Chase increased their price target on shares of Neurocrine Biosciences from $79.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Barclays reaffirmed an “overweight” rating and set a $100.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target (up previously from $95.00) on shares of Neurocrine Biosciences in a research report on Thursday, February 22nd. Finally, Piper Jaffray reaffirmed an “overweight” rating and set a $113.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, March 14th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $95.23.

NASDAQ:NBIX opened at $75.33 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 10.20 and a quick ratio of 10.20. The stock has a market capitalization of $6,875.08, a price-to-earnings ratio of -46.50 and a beta of 0.29. Neurocrine Biosciences has a 1-year low of $41.76 and a 1-year high of $92.98.

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

In related news, insider Haig P. Bozigian sold 1,625 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $79.12, for a total transaction of $128,570.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin Charles Gorman sold 3,750 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $78.89, for a total transaction of $295,837.50. The disclosure for this sale can be found here. Insiders have sold 367,136 shares of company stock worth $30,001,192 in the last ninety days. Corporate insiders own 4.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake 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. Amalgamated Bank raised its stake in Neurocrine Biosciences by 5.7% during the fourth quarter. Amalgamated Bank now owns 17,484 shares of the company’s stock worth $1,357,000 after acquiring an additional 947 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Neurocrine Biosciences by 25.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock worth $458,000 after acquiring an additional 1,200 shares during the period. Crow Point Partners LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter worth about $145,000. Finally, American International Group Inc. acquired a new stake in Neurocrine Biosciences during the fourth quarter worth about $161,000.

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Neurocrine Biosciences Company Profile

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.

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

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