Neurocrine Biosciences, Inc. NBIX is a discoverer and developer of pharmaceuticals for neurological and endocrine-related disorders and diseases that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NBIX's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Neurocrine could be a solid choice for investors.
Current Quarter Estimates for NBIX
In the past 30 days, seven estimates have gone higher for Neurocrine while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 40 cents a share 30 days ago, to 67 cents today, a move of 67.5%.
Current Year Estimates for NBIX
Meanwhile, Neurocrine's current year figures are also looking quite promising, with 12 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, moving from a loss of 31 cents per share 30 days ago to earnings of 80 cents per share today, a significant increase.
Neurocrine Biosciences, Inc. Price and Consensus
Neurocrine Biosciences, Inc. price-consensus-chart | Neurocrine Biosciences, Inc. Quote
The stock has also started to move higher lately, adding 8.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Neurocrine Biosciences, Inc. (NBIX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research