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Why Earnings Season Could Be Great for Neurocrine Biosciences (NBIX)
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Investors are always looking for stocks that are poised to beat at earnings season and Neurocrine Biosciences, Inc. (NBIX - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Neurocrine Biosciences is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for NBIX in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 67 cents per share for NBIX, compared to a broader Zacks Consensus Estimate of 66 cents per share. This suggests that analysts have very recently bumped up their estimates for NBIX, giving the stock a Zacks Earnings ESP of +1.82% heading into earnings season.
Neurocrine Biosciences, Inc. Price and EPS Surprise
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Clearly, recent earnings estimate revisions suggest that good things are ahead for Neurocrine Biosciences, and that a beat might be in the cards for the upcoming report.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.5% per year. So be sure to give these hand-picked 7 your immediate attention.
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Why Earnings Season Could Be Great for Neurocrine Biosciences (NBIX)
Investors are always looking for stocks that are poised to beat at earnings season and Neurocrine Biosciences, Inc. (NBIX - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Neurocrine Biosciences is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for NBIX in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 67 cents per share for NBIX, compared to a broader Zacks Consensus Estimate of 66 cents per share. This suggests that analysts have very recently bumped up their estimates for NBIX, giving the stock a Zacks Earnings ESP of +1.82% heading into earnings season.
Neurocrine Biosciences, Inc. Price and EPS Surprise
Neurocrine Biosciences, Inc. price-eps-surprise | Neurocrine Biosciences, Inc. Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that NBIX has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Neurocrine Biosciences, and that a beat might be in the cards for the upcoming report.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.5% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>