Neurocrine Biosciences Inc. Third Quarter Earnings Sneak Peek

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) will unveil its latest earnings on Friday, October 28, 2011. Neurocrine Biosciences discovers, develops, and commercializes drugs for the treatment of neurological and endocrine-related diseases and disorders.

Neurocrine Biosciences, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 9 cents per share, a rise of 50% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 19 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 9 cents during the last month. For the year, analysts are projecting profit of 64 cents per share, a swing from net loss of 16 cents last year.

Past Earnings Performance: Last quarter, the company fell short of estimates by 0 cents, coming in at net income of 4 cents per share against a mean estimate of profit of 6 cents. The company fell in line with expectations in the first quarter.

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Wall St. Revenue Expectations: On average, analysts predict $21.6 million in revenue this quarter, a rise of 49.8% from the year ago quarter. Analysts are forecasting total revenue of $77.9 million for the year, a rise of more than twofold from last year’s revenue of $33.5 million.

Analyst Ratings: Analysts are bullish on this stock with seven analysts rating it as a buy, none rating it as a sell and two rating it as a hold.

A Look Back: In the second quarter, the company swung to a profit of $2 million (4 cents a share) from a loss of $5.2 million (9 cents) a year earlier, but missed analyst estimates. Revenue rose more than twofold to $12.2 million from $4.6 million.

Competitors to Watch: GlaxoSmithKline plc (NYSE:GSK), Abbott Laboratories (NYSE:ABT), Repligen Corporation (NASDAQ:RGEN), Pfizer Inc. (NYSE:PFE), EntreMed, Inc. (NASDAQ:ENMD), Johnson & Johnson (NYSE:JNJ), Transcept Pharmaceuticals, Inc. (NASDAQ:TSPT), BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX), Forest Laboratories, Inc. (NYSE:FRX), and Repros Therapeutics Inc. (NASDAQ:RPRX).

Stock Price Performance: During July 29, 2011 to October 24, 2011, the stock price had fallen $1.36 (-17.6%) from $7.73 to $6.37. The stock price saw one of its best stretches over the last year between March 22, 2011 and March 31, 2011 when shares rose for eight-straight days, rising 15.3% (+$1.01) over that span. It saw one of its worst periods between July 7, 2011 and July 19, 2011 when shares fell for nine-straight days, falling 7% (-59 cents) over that span. Shares are down $1.27 (-16.6%) year to date.

(Source: Xignite Financials)

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