Neurocrine Biosciences, Inc. (NASDAQ:NBIX) – Research analysts at Piper Jaffray Companies increased their Q1 2020 earnings estimates for shares of Neurocrine Biosciences in a research note issued to investors on Monday, July 29th, according to Zacks Investment Research. Piper Jaffray Companies analyst D. Amsellem now expects that the company will earn $0.53 per share for the quarter, up from their previous forecast of $0.41. Piper Jaffray Companies has a “Overweight” rating and a $111.00 price target on the stock. Piper Jaffray Companies also issued estimates for Neurocrine Biosciences’ Q2 2020 earnings at $0.81 EPS, Q3 2020 earnings at $1.01 EPS, FY2022 earnings at $7.37 EPS and FY2023 earnings at $8.78 EPS.
NBIX has been the subject of several other research reports. Credit Suisse Group upped their price target on shares of Neurocrine Biosciences from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Stifel Nicolaus set a $113.00 price target on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research report on Monday, July 15th. CIBC started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $100.00 price target for the company. Oppenheimer started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $100.00 price target for the company. Finally, BidaskClub upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $107.15.
NBIX stock traded up $0.40 on Wednesday, hitting $97.59. The company’s stock had a trading volume of 598,561 shares, compared to its average volume of 837,922. The firm has a 50 day moving average of $91.19 and a two-hundred day moving average of $84.60. Neurocrine Biosciences has a 1 year low of $64.72 and a 1 year high of $126.98. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 443.59, a price-to-earnings-growth ratio of 5.05 and a beta of 1.32. The company has a current ratio of 7.44, a quick ratio of 7.32 and a debt-to-equity ratio of 0.96.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Monday, July 29th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $161.79 million. During the same quarter in the prior year, the business posted ($0.07) EPS. The company’s revenue for the quarter was up 89.5% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC bought a new position in Neurocrine Biosciences during the 4th quarter valued at about $278,000. Great West Life Assurance Co. Can grew its holdings in Neurocrine Biosciences by 6.2% during the 4th quarter. Great West Life Assurance Co. Can now owns 10,899 shares of the company’s stock valued at $751,000 after purchasing an additional 641 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Neurocrine Biosciences by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 173,257 shares of the company’s stock valued at $12,369,000 after purchasing an additional 6,149 shares during the last quarter. Amalgamated Bank grew its holdings in Neurocrine Biosciences by 63.4% during the 4th quarter. Amalgamated Bank now owns 19,954 shares of the company’s stock valued at $1,425,000 after purchasing an additional 7,742 shares during the last quarter. Finally, Norges Bank bought a new position in Neurocrine Biosciences during the 4th quarter valued at about $61,171,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
In other news, CEO Kevin Charles Gorman sold 80,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $95.31, for a total transaction of $7,624,800.00. Following the transaction, the chief executive officer now directly owns 468,508 shares in the company, valued at approximately $44,653,497.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Darin Lippoldt sold 15,831 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $92.13, for a total transaction of $1,458,510.03. Following the transaction, the insider now owns 160,732 shares in the company, valued at $14,808,239.16. The disclosure for this sale can be found here. Insiders have sold a total of 211,897 shares of company stock worth $19,536,555 over the last ninety days. 4.30% of the stock is owned by corporate insiders.
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.