Neurocrine Biosciences shares are trading higher after the company reported better-than-expected Q3 financial results and raised annual valbenazine revenue outlook. It also authorized $300 million stock buyback.
Portfolio Pulse from Benzinga Newsdesk
Neurocrine Biosciences shares rose following strong Q3 results, an increased annual revenue outlook for valbenazine, and a $300 million stock buyback authorization.
October 30, 2024 | 11:15 am
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Neurocrine Biosciences reported better-than-expected Q3 results, raised its annual revenue outlook for valbenazine, and announced a $300 million stock buyback, leading to a rise in its share price.
The company's strong financial performance and positive future revenue outlook for valbenazine are likely to boost investor confidence. Additionally, the $300 million stock buyback indicates management's confidence in the company's value, which typically supports stock price increases.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100