Neurocrine Biosciences (NASDAQ:NBIX)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report issued on Wednesday, January 30th.
The analysts wrote, “Our price target of $102/share is based on an equally weighted composite of: (a) $103/share, as a 35x multiple of taxed and diluted FY25 GAAP EPS of $8.80 discounted back to and (b) an NPV of $101/share (discount rate 10%, growth rate 2%). We base our valuation on a 20% royalty on sales for Elagolix in endometriosis and uterine fibrosis (probability adjusted). For valbenazine, we include the indication of TD. For opicapone, we include the US revenue (63% goes to 85% POS.””
NBIX has been the topic of several other reports. Leerink Swann started coverage on Neurocrine Biosciences in a research report on Monday, November 12th. They set a “market perform” rating and a $110.00 price target on the stock. BidaskClub lowered Neurocrine Biosciences from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. ValuEngine lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 15th. Cantor Fitzgerald set a $150.00 price objective on Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Monday, November 5th. Finally, Morgan Stanley cut their price objective on Neurocrine Biosciences from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $102.28.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. Neurocrine Biosciences had a return on equity of 5.32% and a net margin of 4.68%. The business had revenue of $131.49 million for the quarter, compared to analyst estimates of $132.32 million. During the same period last year, the company earned $0.07 EPS. Neurocrine Biosciences’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, analysts predict that Neurocrine Biosciences will post 0.11 earnings per share for the current year.
In other Neurocrine Biosciences news, insider Eiry Roberts sold 1,857 shares of the firm’s stock in a transaction dated Tuesday, January 8th. The stock was sold at an average price of $84.09, for a total value of $156,155.13. Following the transaction, the insider now directly owns 3,143 shares of the company’s stock, valued at $264,294.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard F. Pops sold 4,124 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $91.37, for a total value of $376,809.88. Following the completion of the transaction, the director now directly owns 29,512 shares in the company, valued at $2,696,511.44. The disclosure for this sale can be found here. Insiders sold 18,582 shares of company stock worth $1,645,884 over the last three months. Insiders own 4.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in Neurocrine Biosciences by 0.5% during the 2nd quarter. FMR LLC now owns 13,451,201 shares of the company’s stock valued at $1,321,446,000 after purchasing an additional 60,325 shares during the period. Vanguard Group Inc raised its stake in Neurocrine Biosciences by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 7,772,236 shares of the company’s stock valued at $955,597,000 after purchasing an additional 204,065 shares during the period. Perceptive Advisors LLC raised its stake in Neurocrine Biosciences by 1.3% during the 3rd quarter. Perceptive Advisors LLC now owns 4,777,254 shares of the company’s stock valued at $587,363,000 after purchasing an additional 62,004 shares during the period. BB Biotech AG grew its holdings in Neurocrine Biosciences by 5.9% during the 4th quarter. BB Biotech AG now owns 3,343,090 shares of the company’s stock valued at $238,730,000 after buying an additional 185,000 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Neurocrine Biosciences by 27.3% during the 4th quarter. First Trust Advisors LP now owns 1,299,455 shares of the company’s stock valued at $92,794,000 after buying an additional 278,598 shares in the last quarter. 97.90% of the stock is currently owned by hedge funds and other institutional investors.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.
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