Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Expected to Post Quarterly Sales of $211.30 Million

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Brokerages expect that Neurocrine Biosciences, Inc. (NASDAQ:NBIX) will report $211.30 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Neurocrine Biosciences’ earnings, with estimates ranging from $194.00 million to $220.00 million. Neurocrine Biosciences reported sales of $151.76 million in the same quarter last year, which indicates a positive year-over-year growth rate of 39.2%. The firm is expected to report its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Neurocrine Biosciences will report full-year sales of $762.65 million for the current fiscal year, with estimates ranging from $737.10 million to $816.47 million. For the next year, analysts anticipate that the business will post sales of $1.03 billion, with estimates ranging from $944.00 million to $1.11 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Neurocrine Biosciences.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Monday, July 29th. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.13. Neurocrine Biosciences had a return on equity of 0.46% and a net margin of 2.98%. 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 earned ($0.07) earnings per share. The company’s quarterly revenue was up 89.5% compared to the same quarter last year.

Several analysts have weighed in on the company. Oppenheimer assumed coverage on Neurocrine Biosciences in a report on Tuesday, July 16th. They issued an “outperform” rating and a $100.00 target price on the stock. Credit Suisse Group upped their target price on Neurocrine Biosciences from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Stifel Nicolaus set a $113.00 price objective on Neurocrine Biosciences and gave the company a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada began coverage on Neurocrine Biosciences in a research note on Wednesday, August 7th. They set an “outperform” rating and a $118.00 price objective on the stock. Finally, Zacks Investment Research raised Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $107.15.

In other news, insider Haig P. Bozigian sold 3,435 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $85.51, for a total value of $293,726.85. Following the transaction, the insider now directly owns 145,411 shares in the company, valued at approximately $12,434,094.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin Charles Gorman sold 50,911 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $95.15, for a total value of $4,844,181.65. Following the completion of the transaction, the chief executive officer now owns 468,508 shares in the company, valued at $44,578,536.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 211,897 shares of company stock worth $19,536,555. Company insiders own 4.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Emory University grew its stake in shares of Neurocrine Biosciences by 11.9% in the first quarter. Emory University now owns 28,287 shares of the company’s stock valued at $2,492,000 after buying an additional 2,998 shares in the last quarter. Steinberg Global Asset Management grew its stake in Neurocrine Biosciences by 2.7% during the 1st quarter. Steinberg Global Asset Management now owns 15,923 shares of the company’s stock valued at $1,403,000 after purchasing an additional 412 shares in the last quarter. NEXT Financial Group Inc grew its stake in Neurocrine Biosciences by 89.8% during the 2nd quarter. NEXT Financial Group Inc now owns 560 shares of the company’s stock valued at $47,000 after purchasing an additional 265 shares in the last quarter. Exane Derivatives grew its stake in Neurocrine Biosciences by 901.4% during the 1st quarter. Exane Derivatives now owns 4,857 shares of the company’s stock valued at $428,000 after purchasing an additional 4,372 shares in the last quarter. Finally, Enterprise Financial Services Corp grew its stake in Neurocrine Biosciences by 9,375.0% during the 1st quarter. Enterprise Financial Services Corp now owns 6,064 shares of the company’s stock valued at $535,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Neurocrine Biosciences stock opened at $97.59 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 7.32 and a current ratio of 7.44. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 443.59, a price-to-earnings-growth ratio of 5.06 and a beta of 1.32. Neurocrine Biosciences has a fifty-two week low of $64.72 and a fifty-two week high of $126.98. The stock’s fifty day moving average is $91.19 and its two-hundred day moving average is $84.60.

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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