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SAN DIEGO - Neurocrine Biosciences, Inc. (NASDAQ:NBIX), a biopharmaceutical company with a market capitalization of $11.6 billion and impressive revenue growth of 25% over the past year, announced today that its Board of Directors has approved a new share repurchase program. The company, specializing in neuroscience, may buy back up to $500 million of its shares, depending on market conditions. This new plan follows the recent completion of a $300 million accelerated repurchase program that concluded in early February 2025.
Chairman William Rastetter expressed that the new authorization aligns with the company’s capital allocation strategy, which aims to balance investment in commercial products and research and development while also returning capital to shareholders. According to InvestingPro analysis, management has been aggressively buying back shares while maintaining a healthy current ratio of 3.4, indicating strong financial flexibility. Neurocrine Biosciences’ management retains the discretion to execute repurchases through various means, including open-market transactions, privately negotiated deals, and other methods compliant with securities laws. For detailed insights into NBIX’s valuation and 10+ additional ProTips, consider exploring InvestingPro.
Neurocrine Biosciences focuses on developing treatments for neuropsychiatric, neurological, and neuroendocrine disorders. Its portfolio includes FDA-approved treatments for conditions such as tardive dyskinesia and chorea associated with Huntington’s disease. The company’s strong commercial execution has resulted in net income of $341.3 million and maintains an extensive pipeline with several compounds in advanced clinical development stages. Based on InvestingPro’s Fair Value analysis, the stock appears undervalued despite trading at a P/E ratio of 34.4.
The press release also contains forward-looking statements regarding the potential execution of the share repurchase program and the company’s future performance. However, it notes that actual results may differ due to various risks and uncertainties, including market conditions, regulatory decisions, and the successful commercialization and development of the company’s products and candidates.
This announcement is based on a press release statement from Neurocrine Biosciences. The company’s approach to capital management and share repurchases reflects its commitment to advancing its therapeutic offerings while enhancing shareholder value.
In other recent news, Neurocrine Biosciences reported fourth-quarter sales of $615 million for Ingrezza, slightly below the market consensus of $623 million. This shortfall contributed to a lowered full-year 2025 sales guidance for Ingrezza, set between $2.5 billion and $2.6 billion, which did not meet the consensus estimate of $2.67 billion. Despite these figures, Ingrezza’s annual revenue showed a 26% year-over-year increase, reaching $2.3 billion. Analysts from firms like UBS and Guggenheim have adjusted their price targets for Neurocrine, with UBS reducing its target to $154 while maintaining a Buy rating, and Guggenheim lowering its target to $163, also keeping a Buy rating.
Additionally, H.C. Wainwright adjusted its price target to $185, citing the competitive pressures and conservative growth outlook for Ingrezza. Neurocrine’s newly launched drug, Crenessity, recorded $2 million in sales in its initial weeks, an early performance seen as promising by analysts. Deutsche Bank (ETR:DBKGn) initiated coverage with a Hold rating and a price target of $138, expressing a neutral stance on the stock’s valuation. The company continues to advance its clinical pipeline with several key trials planned for 2025, including pivotal trials for major depressive disorder and schizophrenia. These developments reflect the ongoing investor interest and scrutiny of Neurocrine’s performance and future growth potential.
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