Neurocrine Biosciences Inc. (NASDAQ: NBIX) stock fell -0.45% on Thursday to $113.78 against a previous-day closing price of $114.30. With 0.58 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.77 million shares. The 52-week range on NBIX shows that it touched its highest point at $129.29 and its lowest point at $89.04 during that stretch. It currently has a 1-year price target of $126.35. Beta for the stock currently stands at 0.45.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NBIX was up-trending over the past week, with a rise of 4.89%, but this was up by 7.02% over a month. Three-month performance surged to 20.76% while six-month performance rose 20.90%. The stock gained 10.73% in the past year, while it has lost -4.74% so far this year. A look at the trailing 12-month EPS for NBIX yields 1.74 with Next year EPS estimates of 4.80. For the next quarter, that number is 0.97. This implies an EPS growth rate of 70.70% for this year and 103.74% for next year. EPS is expected to grow by 18.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 24.30%.
Float and Shares Shorts:
At present, 97.60 million NBIX shares are outstanding with a float of 96.45 million shares on hand for trading. On Aug 14, 2023, short shares totaled 1.95 million, which was 2.00% higher than short shares on Jul 13, 2023. In addition to Dr. Kevin C. Gorman Ph.D. as the firm’s CEO & Director, Mr. Matthew C. Abernethy serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 96.38% of NBIX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.48% of NBIX, in contrast to 52.73% held by mutual funds. Shares owned by individuals account for 43.56%. As the largest shareholder in NBIX with 10.63% of the stake, BlackRock Fund Advisors holds 10,366,912 shares worth 10,366,912. A second-largest stockholder of NBIX, The Vanguard Group, Inc., holds 9,432,996 shares, controlling over 9.67% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in NBIX, holding 3,956,499 shares or 4.06% stake. With a 3.21% stake in NBIX, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 3,132,304 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.10% of NBIX stock, is the second-largest Mutual Fund holder. It holds 3,021,106 shares valued at 307.82 million. BB Biotech AG holds 2.65% of the stake in NBIX, owning 2,590,000 shares worth 263.9 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, NBIX reported revenue of $378.20M and operating income of $54.70M. The EBITDA in the recently reported quarter was $58.60M and diluted EPS was -$0.18.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NBIX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NBIX analysts setting a high price target of $160.00 and a low target of $95.00, the average target price over the next 12 months is $130.17. Based on these targets, NBIX could surge 40.62% to reach the target high and fall by -16.51% to reach the target low. Reaching the average price target will result in a growth of 14.4% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded NBIX stock several times over the past three months with 0 Buys and 10 Sells. In these transactions, 0 shares were bought while 28,856 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 94 over the past year. The total number of shares bought during that period was 218,461 while 481,960 shares were sold.
