Neurocrine Biosciences, Inc. (NBIX) Issues Earnings Results, Beats Expectations By $0.36 EPS
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) issued its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.36, Bloomberg Earnings reports. The company had revenue of $60.77 million for the quarter, compared to the consensus estimate of $29.38 million. During the same period in the previous year, the business earned ($0.43) EPS.
In other news, insider Dimitri E. Grigoriadis sold 15,354 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $55.00, for a total value of $844,470.00. Following the completion of the sale, the insider now directly owns 123,045 shares of the company’s stock, valued at approximately $6,767,475. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Flint Obrien sold 6,925 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $61.04, for a total value of $422,702.00. Following the completion of the sale, the insider now directly owns 55,898 shares of the company’s stock, valued at $3,412,013.92. The disclosure for this sale can be found here. Insiders sold a total of 123,846 shares of company stock valued at $7,004,150 over the last three months. Company insiders own 4.80% of the company’s stock.
An institutional investor recently raised its position in Neurocrine Biosciences stock. The Manufacturers Life Insurance Company raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,665 shares of the company’s stock after acquiring an additional 193 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Neurocrine Biosciences were worth $123,000 as of its most recent SEC filing.
A number of research firms have commented on NBIX. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, October 25th. Leerink Swann reiterated an “outperform” rating and issued a $72.00 price target (up from $67.00) on shares of Neurocrine Biosciences in a research note on Tuesday, October 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $84.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, October 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 price target (up from $66.00) on shares of Neurocrine Biosciences in a research note on Tuesday, October 3rd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $66.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 21st. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Neurocrine Biosciences has a consensus rating of “Buy” and a consensus target price of $69.31.
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Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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