Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Expected to Post Quarterly Sales of $293.46 Million

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Equities analysts forecast that Neurocrine Biosciences, Inc. (NASDAQ:NBIX) will post $293.46 million in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Neurocrine Biosciences’ earnings, with estimates ranging from $274.60 million to $367.70 million. Neurocrine Biosciences reported sales of $222.09 million in the same quarter last year, which indicates a positive year-over-year growth rate of 32.1%. The firm is expected to issue its next quarterly earnings report on Monday, November 2nd.

According to Zacks, analysts expect that Neurocrine Biosciences will report full year sales of $1.14 billion for the current year, with estimates ranging from $1.07 billion to $1.25 billion. For the next fiscal year, analysts expect that the company will post sales of $1.44 billion, with estimates ranging from $1.30 billion to $1.56 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Neurocrine Biosciences.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.16. The company had revenue of $302.40 million for the quarter, compared to the consensus estimate of $261.66 million. Neurocrine Biosciences had a return on equity of 39.22% and a net margin of 20.36%. The firm’s revenue was up 64.8% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share.

NBIX has been the topic of several research analyst reports. Wedbush initiated coverage on Neurocrine Biosciences in a research report on Monday, June 8th. They issued an “outperform” rating and a $147.00 price target on the stock. Oppenheimer raised their price target on Neurocrine Biosciences from $142.00 to $152.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Piper Sandler increased their target price on shares of Neurocrine Biosciences from $141.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Credit Suisse Group reduced their target price on shares of Neurocrine Biosciences from $135.00 to $126.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Finally, Needham & Company LLC assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, June 16th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $137.79.

In other news, insider Darin Lippoldt sold 1,657 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $136.02, for a total value of $225,385.14. Following the completion of the transaction, the insider now owns 27,678 shares in the company, valued at $3,764,761.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Charles Gorman sold 3,390 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $118.91, for a total transaction of $403,104.90. Following the completion of the transaction, the chief executive officer now owns 438,021 shares of the company’s stock, valued at approximately $52,085,077.11. The disclosure for this sale can be found here. Insiders sold 12,304 shares of company stock valued at $1,546,712 in the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Vident Investment Advisory LLC increased its stake in shares of Neurocrine Biosciences by 58.9% in the 2nd quarter. Vident Investment Advisory LLC now owns 10,264 shares of the company’s stock valued at $1,252,000 after buying an additional 3,805 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Neurocrine Biosciences by 17.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,207 shares of the company’s stock valued at $2,709,000 after acquiring an additional 3,238 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Neurocrine Biosciences by 22.4% during the second quarter. Advisors Asset Management Inc. now owns 18,324 shares of the company’s stock valued at $2,236,000 after acquiring an additional 3,351 shares during the period. Bank of Nova Scotia acquired a new position in shares of Neurocrine Biosciences during the second quarter valued at $501,000. Finally, Rafferty Asset Management LLC lifted its stake in shares of Neurocrine Biosciences by 160.3% during the second quarter. Rafferty Asset Management LLC now owns 11,145 shares of the company’s stock valued at $1,360,000 after acquiring an additional 6,864 shares during the period. Institutional investors own 96.85% of the company’s stock.

Shares of NASDAQ:NBIX traded down $3.08 during midday trading on Friday, hitting $101.22. The company’s stock had a trading volume of 894,456 shares, compared to its average volume of 829,840. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 47.97 and a beta of 1.22. The stock’s 50 day simple moving average is $113.36 and its 200 day simple moving average is $110.07. Neurocrine Biosciences has a fifty-two week low of $72.14 and a fifty-two week high of $136.26.

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 offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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

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