Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Research analysts at Svb Leerink increased their Q3 2019 earnings estimates for shares of Neurocrine Biosciences in a research note issued to investors on Monday, July 29th. Svb Leerink analyst M. Goodman now expects that the company will earn $0.79 per share for the quarter, up from their previous forecast of $0.41. Svb Leerink also issued estimates for Neurocrine Biosciences’ Q4 2019 earnings at $0.62 EPS, FY2019 earnings at $0.92 EPS, FY2020 earnings at $3.70 EPS, FY2021 earnings at $5.75 EPS and FY2022 earnings at $7.85 EPS.
Several other analysts have also issued reports on NBIX. ValuEngine upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Wednesday. BidaskClub upgraded shares of Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 4th. Evercore ISI initiated coverage on shares of Neurocrine Biosciences in a research report on Thursday, April 11th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $100.00 to $106.00 in a research report on Monday, April 22nd. Finally, Stifel Nicolaus set a $113.00 target price on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Neurocrine Biosciences presently has an average rating of “Buy” and an average price target of $106.58.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Monday, July 29th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.13. Neurocrine Biosciences had a net margin of 2.98% and a return on equity of 0.46%. The business had revenue of $183.58 million for the quarter, compared to analyst estimates of $161.79 million. During the same quarter last year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter was up 89.5% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC raised its stake in Neurocrine Biosciences by 6.1% during the second quarter. Janus Henderson Group PLC now owns 9,352,240 shares of the company’s stock worth $789,610,000 after purchasing an additional 540,279 shares during the period. First Trust Advisors LP raised its stake in Neurocrine Biosciences by 18.0% during the second quarter. First Trust Advisors LP now owns 1,277,700 shares of the company’s stock worth $107,876,000 after purchasing an additional 194,643 shares during the period. Pictet Asset Management Ltd. raised its stake in Neurocrine Biosciences by 4.2% during the first quarter. Pictet Asset Management Ltd. now owns 979,208 shares of the company’s stock worth $86,268,000 after purchasing an additional 39,729 shares during the period. Geode Capital Management LLC raised its stake in Neurocrine Biosciences by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 907,292 shares of the company’s stock worth $64,789,000 after purchasing an additional 36,508 shares during the period. Finally, Norges Bank purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $61,171,000. 95.83% of the stock is currently owned by institutional investors.
In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 1,300 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.03, for a total transaction of $104,039.00. Following the transaction, the insider now directly owns 143,276 shares of the company’s stock, valued at $11,466,378.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary A. Lyons sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $92.07, for a total transaction of $920,700.00. Following the transaction, the director now directly owns 235,697 shares in the company, valued at $21,700,622.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,986 shares of company stock worth $16,521,687. Insiders own 4.30% of the company’s stock.
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 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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