Bank of America Securities Sticks to Their Buy Rating for Neurocrine (NBIX)
In a report released yesterday, Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on Neurocrine (NBIX – Research Report), with a price target of $183.00. The company's shares closed yesterday at $118.78.
Confident Investing Starts Here:
Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
According to TipRanks, Ahmad is an analyst with an average return of -5.3% and a 43.00% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, PTC Therapeutics, and Alnylam Pharma.
In addition to Bank of America Securities, Neurocrine also received a Buy from J.P. Morgan's Anupam Rama in a report issued on May 8. However, on May 5, BMO Capital maintained a Hold rating on Neurocrine (NASDAQ: NBIX).
Based on Neurocrine's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $572.6 million and a net profit of $7.9 million. In comparison, last year the company earned a revenue of $515.3 million and had a net profit of $43.4 million
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
an hour ago
How major US stock indexes fared Friday, 6/6/2025
Stocks rose on Wall Street following a better-than-expected report on the U.S. job market. The S&P 500 climbed 1% Friday, marking its second weekly gain in a row. The Dow Jones Industrial Average added 1%, and the Nasdaq composite rose 1.2%. U.S. employers slowed their hiring last month, but still added a solid 139,000 jobs amid uncertainty over President Donald Trump's trade wars. Lululemon Athletica sank after lowering its profit forecast for the full year. On Friday: The S&P 500 rose 61.06 points, or 1%, to 6,000.36. The Dow Jones Industrial Average rose 443.13 points, or 1%, to 42,762.87. The Nasdaq composite rose 231.50 points, or 1.2%, to 19,529.95. The Russell 2000 index of smaller companies rose 34.89 points, or 1.7%, to 2,132.25. For the week: The S&P 500 is up 88.67 points, or 1.5%. The Dow is up 492.80 points, or 1.2%. The Nasdaq is up 416.19 points, or 2.2%. The Russell 2000 is up 65.96 points, or 3.2%. For the year: The S&P 500 is up 118.73 points, or 2%. The Dow is up 218.65 points, or 0.5%. The Nasdaq is up 219.16 points, or 1.1%. The Russell 2000 is down 97.91 points, or 4.4%.
Business Insider
an hour ago
- Business Insider
How Meta Platforms' (META) Shrewd Energy Strategy Fortifies Future Earnings
Tech giant Meta Platforms (META) has entered into a 20-year power purchase agreement (PPA) with Constellation Energy's (CEG) Clinton nuclear plant in Illinois. The deal secures over 1 gigawatt of carbon-free electricity at approximately $80 per megawatt-hour (MWh), helping Meta manage long-term energy costs and mitigate exposure to an increasingly volatile electricity market. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter By locking in stable energy rates, Meta is not only insulating itself from future price swings but also ensuring a reliable power supply for its rapidly expanding data center infrastructure—critical to its AI-driven growth strategy. The recent news has put a strong bid into META stock, helping the company add almost 5% to the value of its shares over the past five days. This move reinforces Meta's position as a leading force in AI-powered social platforms and signals a strong, strategic commitment to sustainable and scalable energy solutions. Accordingly, I am reaffirming my bullish stance on META stock on the back of the CEG joint venture. Rising Power Demand Forces Meta Into Strategic Deal Meta's decision comes at a critical juncture, as U.S. power demand is rising significantly for the first time in decades, primarily driven by the explosive growth of data centers supporting AI, cloud computing, and automation. Utilities have already warned that electricity generation capacity may not scale quickly enough to meet this accelerating demand. PJM, the nation's largest grid operator, has projected potential capacity shortfalls as early as 2030, citing plant retirements outpacing new development. This growing supply-demand imbalance has already introduced volatility in energy markets. In 2022, wholesale power prices averaged roughly $80 per megawatt-hour (MWh) for the first time in over a decade, primarily due to surging natural gas prices that heavily influence market rates. While prices eased in 2023, the macro trends—especially from increasing compute intensity—suggest a renewed upward trajectory starting in 2025. For Meta, whose operations are becoming increasingly energy-intensive, this volatility carries real risk. The company's electricity usage jumped more than 30% last year, reaching approximately 15 terawatt-hours, exposing it to significant cost fluctuations. By securing a long-term nuclear PPA, Meta is effectively insulating itself from future price shocks—stabilizing its operating margins and providing greater long-term predictability for profitability. Meta's Nuclear Energy Strategy to Commence in 2027 Starting in 2027 and continuing through 2047, Meta will purchase the full output—1,121 megawatts—of electricity generated by Constellation's Clinton Power Station. As a 24/7/365 baseload source, nuclear energy plays a critical role in supporting intermittent renewables like solar and wind. Urvi Parekh, Meta's Head of Global Energy, underscored the strategic importance of the deal, stating that 'securing clean, reliable energy is necessary to continue advancing our AI ambitions.' While financial terms were not publicly disclosed, analysts estimate the agreement is priced near $80 per megawatt-hour. Meta secured advantageous terms by helping extend the life of an existing nuclear facility. The deal effectively replaces Illinois' expiring zero-carbon credit subsidies in 2027, allowing the Clinton reactor to remain operational without additional ratepayer support. In return, Meta locks in a long-term, carbon-free power supply—shielded from fuel price volatility and future grid constraints. Constellation's CEO praised the agreement as a forward-thinking private-sector model, highlighting Meta's recognition of the strategic value in maintaining the nation's nuclear infrastructure. Meta's decision to secure a stable, long-term energy supply offers a clear strategic advantage—particularly as Big Tech intensifies efforts to lock in reliable power sources to support rapidly expanding, energy-intensive AI workloads. Microsoft, for instance, has signed a 20-year power purchase agreement (PPA) tied to the planned restart of the Three Mile Island facility, reportedly at a mid-range but competitive price of approximately $110 per megawatt-hour. Meanwhile, Google is backing small modular reactor (SMR) technology through its investment in Kairos Power, aiming to integrate nuclear energy into its operations by 2030, alongside broader commitments to renewables. Amazon Web Services is also expanding into the nuclear space, supporting advanced reactor startup X-energy to potentially power future AWS data centers in high-demand regions, such as Virginia and the Pacific Northwest. What is the Price Target for Meta Platforms? On Wall Street, Meta stock has a consensus Strong Buy rating, based on 41 Buys, three Holds, and one Sell rating attained over the past three months. The average META stock price target is $697.55, indicating ~2% upside potential over the next 12 months. However, the high estimate is $918, and my own target is about $800. This means a potential 15% return over the next 12 months or nearly a 30% return if the high estimate is met. Meta Wins by Being Strategic on Energy Meta's nuclear power agreement delivers clear strategic advantages in terms of energy reliability and cost certainty. By effectively hedging against future energy price volatility, the company mitigates a key operational risk and reinforces its ability to maintain stable profit margins over time. This long-term visibility into energy costs not only enhances financial resilience but also ensures a secure energy supply to support the company's expanding AI infrastructure. Additionally, Meta's direct investment in carbon-free energy aligns with the values of environmentally conscious and ESG-focused investors, likely bolstering long-term sentiment around the stock. In essence, this move transforms a historically volatile cost center into a strategic asset—positioning Meta for decades of consistent energy management and sustained profitability amid an increasingly dynamic tech and power landscape.
Yahoo
an hour ago
- Yahoo
Stocks to Watch as May's Jobs Report Beats Economists' Expectations: PCTY, MMS
The broader indexes saw a nice uptick on Friday as May's Jobs report came in better than expected, with the S&P 500 and Nasdaq rising over +1%. Driving the stock market's uptick, U.S. employers added 139,000 jobs, which came in above most economists' expectations of 125,000-130,000, while the unemployment rate remained steady at 4.2%. Also helping to appease tariff uncertainty was that wage growth outpaced inflation, with average hourly earnings rising 3.9% year over year compared to April's latest reading of a 2.3% inflationary uptick (Consumer Price Index). Notably, the next inflation report is set for Wednesday, June 11, when the Fed releases the latest CPI data. That said, here are a few stocks investors will want to consider following May's optimistic jobs report, with payroll stocks being of interest in particular. Image Source: Federal Reserve Economic Data Paylocity PCTY is a cloud-based payroll and human capital management (HCM) software solutions provider to keep an eye on. Notably, Paylocity has continued an impressive streak of surpassing earnings expectations, most recently beating EPS estimates for its fiscal third quarter by 16% in May. Paylocity has now exceeded the Zacks EPS Consensus for 26 consecutive quarters with an average EPS surprise of 15.4% over the last four quarters. Image Source: Zacks Investment Research Meanwhile, government health and human services program provider Maximus MMS is benefiting from a pleasant trend of rising EPS revisions and trades at a very reasonable 10.8X forward earnings multiple. Glamorizing Maximus' attractive P/E valuation, fiscal 2025 and FY26 EPS estimates have risen nearly 7% and 4% in the last 30 days, respectively, with the company blasting earnings expectations for its fiscal second quarter by 47% last month (Q2 EPS of $2.01 versus $1.37 Consensus). Image Source: Zacks Investment Research Other payroll stocks to consider include HCM software providers Dayforce DAY and Paychex PAYX, along with outsourcing company Barrett Business Services BBSI which all land a Zacks Rank #3 (Hold). Furthermore, certain medical and hospitality-related stocks are appealing as May's Jobs report showed job growth was strongest in the healthcare and leisure/hospitality sectors, which added 62,000 and 48,000 jobs, respectively. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Maximus, Inc. (MMS) : Free Stock Analysis Report Paylocity Holding Corporation (PCTY) : Free Stock Analysis Report Paychex, Inc. (PAYX) : Free Stock Analysis Report Barrett Business Services, Inc. (BBSI) : Free Stock Analysis Report Dayforce, Inc. (DAY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
