Oppenheimer Brokers Cut Earnings Estimates for Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Oppenheimer lowered their Q2 2020 earnings estimates for Neurocrine Biosciences in a report issued on Tuesday, February 11th. Oppenheimer analyst J. Olson now forecasts that the company will post earnings of $0.92 per share for the quarter, down from their previous estimate of $0.97. Oppenheimer currently has a “Outperform” rating and a $132.00 target price on the stock. Oppenheimer also issued estimates for Neurocrine Biosciences’ Q4 2020 earnings at $0.87 EPS and FY2023 earnings at $9.15 EPS.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.40). The business had revenue of $244.10 million for the quarter, compared to the consensus estimate of $231.54 million. Neurocrine Biosciences had a net margin of 4.70% and a return on equity of 8.90%. The business’s quarterly revenue was up 85.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share.

Several other brokerages have also issued reports on NBIX. Royal Bank of Canada restated a “buy” rating and set a $125.00 target price on shares of Neurocrine Biosciences in a research report on Monday, January 20th. TheStreet upgraded shares of Neurocrine Biosciences from a “c+” rating to a “b” rating in a research report on Tuesday, November 19th. Piper Jaffray Companies restated an “overweight” rating and set a $153.00 target price (up from $116.00) on shares of Neurocrine Biosciences in a research report on Thursday, December 12th. HC Wainwright restated a “buy” rating and set a $125.00 target price (up from $102.00) on shares of Neurocrine Biosciences in a research report on Wednesday, February 5th. Finally, Credit Suisse Group lowered shares of Neurocrine Biosciences from an “outperform” rating to a “neutral” rating and set a $110.00 target price for the company. in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Neurocrine Biosciences currently has a consensus rating of “Buy” and a consensus target price of $116.46.

Shares of NASDAQ NBIX opened at $106.45 on Thursday. The firm has a 50 day moving average of $105.63 and a 200 day moving average of $102.37. The company has a current ratio of 7.08, a quick ratio of 6.99 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 322.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.53. Neurocrine Biosciences has a 12-month low of $71.85 and a 12-month high of $119.65.

Several hedge funds have recently added to or reduced their stakes in NBIX. Altshuler Shaham Ltd raised its stake in Neurocrine Biosciences by 172.9% during the fourth quarter. Altshuler Shaham Ltd now owns 262 shares of the company’s stock valued at $28,000 after purchasing an additional 166 shares in the last quarter. Evolution Wealth Advisors LLC raised its stake in Neurocrine Biosciences by 871.8% during the fourth quarter. Evolution Wealth Advisors LLC now owns 379 shares of the company’s stock valued at $41,000 after purchasing an additional 340 shares in the last quarter. Huntington National Bank raised its stake in Neurocrine Biosciences by 43,300.0% during the fourth quarter. Huntington National Bank now owns 434 shares of the company’s stock valued at $47,000 after purchasing an additional 433 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at $48,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at $52,000. 96.46% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Dimitri E. Grigoriadis sold 5,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $115.98, for a total value of $579,900.00. Following the transaction, the insider now owns 113,408 shares of the company’s stock, valued at $13,153,059.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Matt Abernethy sold 1,645 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $116.33, for a total transaction of $191,362.85. The disclosure for this sale can be found here. Insiders sold 54,286 shares of company stock worth $5,747,848 in the last three months. 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 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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