Neurocrine Biosciences Stock (NASDAQ: NBIX)

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Neurocrine Biosciences

Neurocrine Biosciences Inc is a research-based pharmaceutical company advancing drug candidates in the central nervous system and endocrine-related categories. The company's three late stage clinical programs are elagolix which is hormone releasing antagonist for women's health, opicapone which is an inhibitor for parkinson's patients, and ingrezza for tourette syndrome.

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Neurocrine Biosciences announced that its ERUDITE Phase 2 trial for luvadaxistat failed to meet its primary endpoint in treating cognitive impairment in schizophrenia. The company will halt development and focus on advancing other schizophrenia and depression candidates.

Neurocrine Shifts Focus To New Schizophrenia Treatment After Luvadaxistat Trial Misses Endpoint

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Neurocrine Biosciences, Inc. - Common Stock

Neurocrine Biosciences Inc

Cantor Fitzgerald analyst Charles Duncan reiterates Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Overweight and maintains $155 price target.

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Cantor Fitzgerald Reiterates Overweight on Neurocrine Biosciences, Maintains $155 Price Target

Neurocrine Biosciences Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) ERUDITE phase two clinical study of investigational compound luvadaxistat (NBI-1065844) failed to meet its primary endpoint as a potential treatment to improve cognitive <a href="https://www.benzinga.com/pressreleases/24/09/n40842532/neurocrine-biosciences-provides-update-on-erudite-phase-2-data-for-luvadaxistat-in-adults-with-cog" target="_blank" rel="noreferrer noopener">impairment in schizophrenia patients</a>.
It failed to replicate the cognitive endpoint data seen in the earlier INTERACT study due in part to the large variability seen in the cognitive measures across the population studied and a potential imbalance in the baseline characteristics of subjects enrolled across the treatment arms.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40632561/neurocrine-biosciences-lower-dose-data-puts-its-schizophrenia-candidate-in-the-game" rel="noreferrer noopener">Neurocrine Biosciences&#8217; Lower Dose Data Puts Its Schizophrenia Candidate In The Game, Analyst Upgrades Stock</a>
In the INTERACT study, 50 mg luvadaxistat resulted in a statistically significant improvement in the measure of cognition on the Brief Assessment of Cognition in Schizophrenia (BACS) and cognitive performance on the Schizophrenia Cognition Rating Scale (SCoRS).
The INTERACT study was the first to demonstrate statistical significance for both cognitive measures and function within a single study.
The company stated it was disappointed that luvadaxistat did not meet the primary endpoint in this study and it understood the challenges and hurdles that exist in identifying potential medicines for the treatment of cognitive impairment in schizophrenia.
Neurocrine Biosciences will halt further development of luvadaxistat and instead will focus on the advancement into phase three development of NBI-1117568 for schizophrenia and NBI-1065845 for major depressive disorder.
In August, Neurocrine Biosciences shared topline data for its phase one study of NBI-1117568 (NBI-‘568) in&nbsp;<a href="https://www.benzinga.com/pressreleases/24/08/n40596900/neurocrine-biosciences-reports-positive-phase-2-data-for-nbi-1117568-in-adults-with-schizophrenia" target="_blank" rel="noreferrer noopener">adults with schizophrenia</a>.
The new data showed that the once-daily 20 mg dose of NBI-‘568 induced an average 18.2-point reduction from baseline in the Positive and Negative Syndrome Scale (PANSS) after six weeks, compared to 10.8 <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40604853/as-regulators-gear-up-to-decide-on-bristol-myers-schizophrenia-treatment-neurocrine-biosciences-d" rel="noreferrer noopener">points in the placebo group</a>.
William Blair noted further value can be unlocked through the expanding Ingrezza business, the anticipated near-term launch of crinecerfont for treating congenital adrenal hyperplasia (CAH), with PDUFA dates set for Dec. 29 and 30, 2024, and the company's mid-stage portfolio.
The analyst reiterated the Outperform <a href="https://www.benzinga.com/quote/NBIX/analyst-ratings" target="_blank" rel="noreferrer noopener">rating on Neurocrine</a>.
NBIX Price Action: Neurocrine Biosciences stock is up 0.82% at $122.27 at last check Friday.
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<ul>
<li>Second Phase 2 Study for Luvadaxistat Fails to Meet Primary Endpoint as Potential Treatment for Cognitive Impairment Associated with Schizophrenia</li>
<li>Results Confounded by Variability in Cognition Measures Across Population Studied and Potential Imbalance in Baseline Characteristics of Enrolled Subjects
<ul>
<li>Neurocrine Biosciences to Focus Resources on Phase 3 Clinical Development of NBI-1117568 for Schizophrenia and NBI-1065845 for Major Depressive Disorder</li>
</ul>
</li>
</ul>

Neurocrine Biosciences Provides Update on ERUDITE™Phase 2 Data For Luvadaxistat

During the last three months, 19 analysts shared their evaluations of Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>), revealing diverse outlooks from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">11</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $168.74, with a high estimate of $219.00 and a low estimate of $128.00. Marking an increase of 3.15%, the current average surpasses the previous average price target of $163.58. 
<img src="https://www.benzinga.com/files/images/story/2024/1725894065_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
A clear picture of Neurocrine Biosciences's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Carter Gould</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$160.00</td>
<td>$180.00</td>
</tr>
<tr>
<td>Charles Duncan</td>
<td>Cantor Fitzgerald</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$155.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Evan Seigerman</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$128.00</td>
<td>$142.00</td>
</tr>
<tr>
<td>David Amsellem</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$159.00</td>
<td>$131.00</td>
</tr>
<tr>
<td>Brian Abrahams</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$136.00</td>
<td>$143.00</td>
</tr>
<tr>
<td>Andrew Fein</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$190.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Akash Tewari</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$189.00</td>
<td>$177.00</td>
</tr>
<tr>
<td>Anupam Rama</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$181.00</td>
<td>$173.00</td>
</tr>
<tr>
<td>Andrew Fein</td>
<td>HC Wainwright &amp; Co.</td>
<td>Raises</td>
<td>Buy</td>
<td>$190.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Brian Abrahams</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$143.00</td>
<td>$136.00</td>
</tr>
<tr>
<td>Yatin Suneja</td>
<td>Guggenheim</td>
<td>Raises</td>
<td>Buy</td>
<td>$180.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>David Hoang</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$158.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Jay Olson</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$219.00</td>
<td>$216.00</td>
</tr>
<tr>
<td>Carter Gould</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$180.00</td>
<td>$169.00</td>
</tr>
<tr>
<td>Brian Skorney</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$180.00</td>
<td>$157.00</td>
</tr>
<tr>
<td>Charles Duncan</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$155.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Jeffrey Hung</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$170.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Anupam Rama</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$173.00</td>
<td>$169.00</td>
</tr>
<tr>
<td>Jeffrey Hung</td>
<td>Morgan Stanley</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$160.00</td>
<td>$160.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Neurocrine Biosciences. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Neurocrine Biosciences compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Neurocrine Biosciences's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Neurocrine Biosciences's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/NBIX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Neurocrine Biosciences analyst ratings.</a>
<h2>Delving into Neurocrine Biosciences's Background</h2>
Neurocrine Biosciences Inc is a research-based pharmaceutical company advancing drug candidates in the central nervous system and endocrine-related categories. The company's three late stage clinical programs are elagolix which is hormone releasing antagonist for women's health, opicapone which is an inhibitor for parkinson's patients, and ingrezza for tourette syndrome.
<h3>Financial Milestones: Neurocrine Biosciences's Journey</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Neurocrine Biosciences's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 30.37%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Health Care sector.
Net Margin: Neurocrine Biosciences's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 11.01%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Neurocrine Biosciences's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 2.66%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Neurocrine Biosciences's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.92% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Neurocrine Biosciences's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.1.
<h2>The Basics of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Decoding 19 Analyst Evaluations For Neurocrine Biosciences

Barclays analyst Carter Gould maintains Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Overweight and lowers the price target from $180 to $160.

Barclays Maintains Overweight on Neurocrine Biosciences, Lowers Price Target to $160

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<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock lost 34.89% in August. The company <a href="https://www.benzinga.com//node/40602417" target="_blank" rel="noreferrer noopener">delayed filing its 10-K</a>.</li>
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<li>Neurocrine Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) stock dived 17.04%. It presented topline data for its Phase 2 clinical study of NBI-1117568 (NBI-‘568) in <a href="https://www.benzinga.com//node/40632561" target="_blank" rel="noreferrer noopener">adults with schizophrenia</a>.</li>
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Neurocrine Biosciences shares are trading higher after falling Wednesday despite its Phase 2 study of NBI-1117568 in schizophrenia meeting its primary endpoint. Piper Sandler upgraded the stock from Neutral to Overweight on Thursday.

Wednesday,&nbsp;Neurocrine Biosciences, Inc. (NASDAQ: NBIX)&nbsp;topline data for its Phase 2 clinical study of NBI-1117568 (NBI-‘568) in&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40604853/as-regulators-gear-up-to-decide-on-bristol-myers-schizophrenia-treatment-neurocrine-biosciences-d" rel="noreferrer noopener">adults with schizophrenia</a>.
The new data showed that the once-daily 20 mg dose of NBI-‘568 induced an average 18.2-point reduction from baseline in the Positive and Negative Syndrome Scale (PANSS) after six weeks, compared to 10.8 points in the placebo group.
That 7.5-point difference reached statistical significance with a p-value of p=0.011.
The company noted that none of the other three higher-dosing groups (30, 40, and 60 mg) reached statistical significance.
Piper Sandler upgraded the stock from <a target="_blank" href="https://www.benzinga.com/quote/NBIX/analyst-ratings" rel="noreferrer noopener">Neutral to Overweight</a>, with a price target of $159, up from $131, noting that data around 20 mg puts &#8216;568 squarely &#8220;in the game.&#8221;
&#8220;Though the hand-wringing over Phase 2 data for NBI-1117568 in adults with schizophrenia, is not lost on us.&#8221;
The 20 mg dose positions &#8216;568 as a strong contender among selective muscarinic agonists, offering a promising alternative in the antipsychotic field that moves away from the safety concerns associated with atypical antipsychotics, the analyst notes.
In a field where individualized treatment responses and frequent cycling between options are common, adding another selective muscarinic agonist, even one with a similar profile, holds value. Though the analyst notes that there&#8217;s still much to learn about &#8216;568, but its inclusion in the treatment arsenal is beneficial.
Price Action: NBIX stock is up 3.64% at $128.26 at the last check on Thursday.
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Upgrades

Neurocrine Biosciences' Lower Dose Data Puts Its Schizophrenia Candidate In The Game, Analyst Upgrades Stock

Cantor Fitzgerald analyst Charles Duncan maintains Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Overweight and lowers the price target from $170 to $155.

Cantor Fitzgerald Maintains Overweight on Neurocrine Biosciences, Lowers Price Target to $155

RBC Capital analyst Brian Abrahams maintains Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Sector Perform and lowers the price target from $143 to $136.

RBC Capital Maintains Sector Perform on Neurocrine Biosciences, Lowers Price Target to $136

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>B of A Securities cut the price target for PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) from $133 to $130. B of A Securities analyst Heather Balsky maintained a Buy rating. PVH shares fell 6.4% to close at $97.75 on Wednesday. <a href="https://www.benzinga.com/quote/PVH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Rosenblatt lowered the price target for CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) from $330 to $325. Rosenblatt analyst Catharine Trebnick maintained a Buy rating. CrowdStrike shares fell 2.1% to close at $264.20 on Wednesday. <a href="https://www.benzinga.com/quote/CRWD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Loop Capital raised Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) price target from $240 to $270. Loop Capital analyst Yun Kim maintained a Hold rating. Salesforce shares fell 2% to close at $258.90 on Wednesday. <a href="https://www.benzinga.com/quote/CRM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted the price target for Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) from $245 to $251. Baird analyst Joe Vruwink maintained an Outperform rating. Veeva shares fell 0.5% to close at $199.35 on Wednesday. <a href="https://www.benzinga.com/quote/VEEV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo raised NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) price target from $155 to $165. Wells Fargo analyst Aaron Rakers maintained an Overweight rating. NVIDIA shares fell 2.1% to close at $125.61 on Wednesday. <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Williams Trading raised Shoe Carnival, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCVL#NASDAQ">SCVL</a>) price target from $42 to $51. Williams Trading analyst Sam Poser maintained a Buy rating. Shoe Carnival shares fell 6.1% to close at $40.47 on Wednesday.<a href="https://www.benzinga.com/quote/SCVL/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Evercore ISI Group increased the price target for Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) from $420 to $460. Evercore ISI Group analyst Mark Mahaney maintained an Outperform rating. Spotify shares fell 0.6% to close at $337.56 on Wednesday. <a href="https://www.benzinga.com/quote/SPOT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley cut Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) price target from $30.5 to $25.8. Morgan Stanley analyst Martijn Rats downgraded the stock from Equal-Weight to Underweight. Equinor shares closed at $27.10 on Wednesday. <a href="https://www.benzinga.com/quote/EQNR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler boosted Neurocrine Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) price target from $131 to $159. Piper Sandler analyst David Amsellem upgraded the stock from Neutral to Overweight. Neurocrine Biosciences shares fell 18.9% to close at $123.76 on Wednesday. <a href="https://www.benzinga.com/quote/NBIX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS raised HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) price target from $34 to $37. UBS analyst David Vogt maintained a Neutral rating. HP shares fell 2.4% to close at $34.76 on Wednesday. <a href="https://www.benzinga.com/quote/HPQ/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying NVDA stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29084447/image-297-1024x519.png" alt="" class="wp-image-520687" style="width:612px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29084447/image-297-1024x519.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29084447/image-297-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29084447/image-297-768x390.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29084447/image-297.png 1301w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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NVIDIA To Rally Over 31%? Here Are 10 Top Analyst Forecasts For Thursday

HC Wainwright &amp; Co. analyst Andrew Fein reiterates Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Buy and maintains $190 price target.

HC Wainwright & Co. Reiterates Buy on Neurocrine Biosciences, Maintains $190 Price Target

Needham analyst Ami Fadia reiterates Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Hold.

Needham Reiterates Hold on Neurocrine Biosciences

Piper Sandler analyst David Amsellem upgrades Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) from Neutral to Overweight and raises the price target from $131 to $159.

Piper Sandler Upgrades Neurocrine Biosciences to Overweight, Raises Price Target to $159

BMO Capital analyst Evan Seigerman maintains Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) with a Market Perform and lowers the price target from $142 to $128.

BMO Capital Maintains Market Perform on Neurocrine Biosciences, Lowers Price Target to $128

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling over 1% on Wednesday.
The Dow traded down 0.42% to 41,075.81 while the NASDAQ fell 1.12% to 17,556.37. The S&amp;P 500 also fell, dropping, 0.62% to 5,590.95.
Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40596469/4-5m-bet-on-this-consumer-cyclical-stock-check-out-these-3-stocks-executives-are-buying"> $4.5M Bet On This Consumer Cyclical Stock? Check Out These 3 Stocks Executives Are Buying</a>
Leading and Lagging Sectors Health care shares climbed by 0.1% on Wednesday.
In trading on Wednesday, information technology shares fell by 1.3%.
Top Headline
Foot Locker, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) shares tumbled around 11% on Wednesday following the release of quarterly results.
The company reported a second-quarter adjusted EPS loss of 5 cents, beating the analyst consensus estimate of 7-cent loss. Quarterly sales of $1.896 billion beat the street view of $1.888 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) shares shot up 12% to $198.49 after multiple analysts upgraded the stock and raised their price targets.</li>
<li>Shares of Virax Biolabs Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRAX#NASDAQ">VRAX</a>) got a boost, surging 24% to $6.05 after the company announced a distribution agreement to commercialize Mpox virus RT-PCR detection kits in Europe and the Middle East.</li>
<li>BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) shares were also up, gaining 99% to $1.3399 after the company reported a year-over-year increase in its H1 revenue results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) shares dropped 31% to $0.0814. AGAPE ATP announced a 1-for-20 reverse stock split effective Aug. 30.</li>
<li>Shares of Neurocrine Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) were down 18% to $124.42 despite its Phase 2 study of NBI-1117568 in schizophrenia meeting its primary endpoint.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) was down, falling 25% to $411.82 after the company announced that it will delay its Form 10-K filing.</li>
</ul>
Commodities In commodity news, oil traded down 0.8% to $74.93 while gold traded down 0.6% at $2,538.20.
Silver traded down 2.4% to $29.25 on Wednesday, while copper fell 1.9% to $4.2215.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 gained 0.33%, Germany's DAX rose 0.54% and France's CAC 40 rose 0.16%. Spain's IBEX 35 Index rose 0.05%, while London's FTSE 100 fell 0.02%.
Bank lending to households in the Eurozone climbed by 0.5% year-over-year to €6.883 trillion in July. Industrial sales in Italy increased by 0.1% from the prior month in June. The consumer confidence indicator in France climbed to 92.1 in August from 90 in the prior month.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 0.22%, Hong Kong's Hang Seng Index falling 1.02%, China's Shanghai Composite Index falling 0.40% and India's BSE Sensex rising 0.09%.
The index of leading economic indicators in Japan came in at 109 in June compared to 111.1 in the prior month. The index of coincident economic indicators in Japan fell to 113.2 in June from 117.1 in May.
Economics
Mortgage applications in the U.S. rose 0.5% from the earlier week in the period ending Aug. 23.
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Earnings

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Nasdaq Down Over 1%; Foot Locker Shares Tumble After Q2 Results

Wednesday, Neurocrine Biosciences, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) topline data for its Phase 2 clinical study of NBI-1117568 (NBI-&#8216;568) in <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40596900/neurocrine-biosciences-reports-positive-phase-2-data-for-nbi-1117568-in-adults-with-schizophrenia" rel="noreferrer noopener">adults with schizophrenia</a>.
NBI-&#8216;568 is the first investigational, oral, muscarinic M4 <a target="_blank" href="https://www.benzinga.com/quote/nbix" rel="noreferrer noopener">selective agonist</a>.
The new data showed that the once-daily 20 mg dose of NBI-&#8216;568 induced an average 18.2-point reduction from baseline in the Positive and Negative Syndrome Scale (PANSS) after six weeks, compared to 10.8 points in the placebo group.
Also Read: <a target="_blank" href="https://www.benzinga.com/m-a/24/08/40586451/regulators-expected-to-approve-innovative-schizophrenia-treatment-from-bristol-myers-karuna" rel="noreferrer noopener">Regulators Expected To Approve Innovative Schizophrenia Treatment From Bristol Myers, Karuna</a>.
That 7.5-point difference reached statistical significance with a p-value of p=0.011.
The company noted that none of the other three higher-dosing groups (30, 40, and 60 mg) reached statistical significance.
William Blair notes that while this effect size is in line with what was demonstrated by Bristol Myers Squibb&nbsp;Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;acquired Karuna&#8217;s KarXT, the 7.5 delta versus placebo is lower than the 11.6 difference in the Phase 3 EMERGENT-2 study.
It was also lower than the 0.75 effect size and 11.6-point delta from placebo from the EMERGENT-1 Phase 2 study and the 12.7-point and 11.1-point improvement over placebo with AbbVie Inc&#8217;s (formerly Cerevel&#8217;s) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) emraclidine.
&#8220;We do highlight that the placebo improvement of 10.8 points is greater than what was seen in prior Phase II studies of KarXT and emraclidine, which is unsurprising given potential expectation bias around a more well-validated mechanism and is more in line with prior studies of antipsychotics historically,&#8221; William Blair analyst adds.
Price Action: NBIX stock is down 18.90% at $123.71&nbsp;at the last check on Wednesday.
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ABBV

As Regulators Gear Up To Decide On Bristol Myers' Schizophrenia Treatment, Neurocrine Biosciences' Data Disappoints Investors

U.S. stocks traded mixed this morning, with the Dow Jones index gaining over 50 points on Wednesday.
The Dow traded up 0.17% to 41,321.67 while the NASDAQ fell 0.42% to 17,679.73. The S&amp;P 500 also fell, dropping, 0.07% to 5,621.87.
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Leading and Lagging Sectors Financials shares climbed by 0.2% on Wednesday.
In trading on Wednesday, energy shares fell by 0.8%.
Top Headline
The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) reported upbeat quarterly earnings, but lowered its annual outlook.
JM Smucker reported quarterly earnings of $2.44 per share which beat the analyst consensus estimate of $2.17 per share. The company reported quarterly sales of $2.13 billion which met the analyst consensus estimate.
J.M. Smucker said it now expects annual net sales to rise in the range of 8.5% to 9.5%, versus its prior outlook of a 9.5% to 10.5% increase. It now sees fiscal 2025 adjusted earnings of $9.60 to $10.00 per share, versus earlier outlook of $9.80 to $10.20 per share.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Bolt Projects Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSLK#NASDAQ">BSLK</a>) shares shot up 87% to $3.8842.</li>
<li>Shares of Virax Biolabs Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRAX#NASDAQ">VRAX</a>) got a boost, surging 49% to $7.29 after the company announced a distribution agreement to commercialize Mpox virus RT-PCR detection kits in Europe and the Middle East.</li>
<li>BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) shares were also up, gaining 47% to $0.9848 after the company reported a year-over-year increase in its H1 revenue results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) shares dropped 24% to $0.0896. AGAPE ATP announced a 1-for-20 reverse stock split effective Aug. 30.</li>
<li>Shares of Neurocrine Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) were down 19% to $123.20 despite its Phase 2 study of NBI-1117568 in schizophrenia meeting its primary endpoint.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) was down, falling 18% to $451.42 after the company announced that it will delay its Form 10-K filing.</li>
</ul>
Commodities In commodity news, oil traded down 1.1% to $74.73 while gold traded down 0.6% at $2,537.80.
Silver traded down 2.2% to $29.33 on Wednesday, while copper fell 1.7% to $4.2305.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 gained 0.4%, Germany's DAX rose 0.8% and France's CAC 40 rose 0.4%. Spain's IBEX 35 Index rose 0.2%, while London's FTSE 100 fell 0.1%.
Bank lending to households in the Eurozone climbed by 0.5% year-over-year to €6.883 trillion in July. Industrial sales in Italy increased by 0.1% from the prior month in June. The consumer confidence indicator in France climbed to 92.1 in August from 90 in the prior month.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 0.22%, Hong Kong's Hang Seng Index falling 1.02%, China's Shanghai Composite Index falling 0.40% and India's BSE Sensex rising 0.09%.
The index of leading economic indicators in Japan came in at 109 in June compared to 111.1 in the prior month. The index of coincident economic indicators in Japan fell to 113.2 in June from 117.1 in May.
Economics
Mortgage applications in the U.S. rose 0.5% from the earlier week in the period ending Aug. 23.
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BSLK

US Stocks Mixed; JM Smucker Slashes Annual Guidance

Neurocrine Biosciences shares are trading lower despite its Phase 2 study of NBI-1117568 in schizophrenia meeting its primary endpoint.

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Neurocrine's Robust Drug Pipeline and Strategic Launch Preparations Bolster Buy Rating

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Neurocrine (NBIX) Receives a Buy from Barclays

Bank of America Securities analyst Tazeen Ahmad reiterated a Buy rating on Neurocrine (NBIX – Research Report) on September 6 and set a price targe...

Buy Rating for Neurocrine Backed by Promising NBI-'568 Drug Profile and Market Potential

Biotechnology firms live or die by clinical trials, and Neurocrine Biosciences ($NBIX) is no different. After putting on a solid performance up unt...

Neurocrine Stock's (NBIX) Schizophrenia Selloff Has Made It Undervalued

Analyst Tazeen Ahmad from Bank of America Securities maintained a Buy rating on Neurocrine (NBIX – Research Report) and keeping the price target at...

Neurocrine Poised for Market Leadership in CAH Treatments: A Strong Buy Amidst Competitor Setbacks

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Analysts Offer Insights on Healthcare Companies: Immuneering (IMRX), McKesson (MCK) and Neurocrine (NBIX)

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Resilience Amidst Setbacks: Affirming Buy Rating on Neurocrine Biosciences

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Press Releases

Neurocrine Biosciences Announces Conference Call and Webcast of Second Quarter 2024 Financial Results

Neurocrine Biosciences Launches INGREZZA® SPRINKLE (valbenazine) Capsules to Ease Administration for Patients Experiencing Dysphagia or Difficulty Swallowing

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Neurocrine Biosciences (NBIX) Forecast

Neurocrine Biosciences (NASDAQ:NBIX) Stock, Quote.Headers.trade-ideas