Analyst Andrew Fein from H.C. Wainwright maintained a Buy rating on Neurocrine and keeping the price target at $168.00.
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Andrew Fein has given his Buy rating due to a combination of factors including the strong performance of Neurocrine’s drug, Crenessity, which has shown significant sales growth and patient adoption. The drug generated $53 million in sales, surpassing expectations, and has seen a rapid increase in new patient starts and payer coverage.
Key opinion leaders (KOLs) have praised Crenessity as a transformative treatment for certain congenital adrenal hyperplasia (CAH) patients, noting improvements in symptoms such as hirsutism and glucose control. The drug’s ability to reduce androstenedione and 17-hydroxyprogesterone levels quickly has been highlighted as a benefit, allowing for glucocorticoid tapering. Despite some coverage challenges with Medicaid, the overall positive reception from endocrinologists and the potential for broader adoption through increased education and training support the Buy rating.
Fein covers the Healthcare sector, focusing on stocks such as Amylyx Pharmaceuticals Inc, Biogen, and Kymera Therapeutics. According to TipRanks, Fein has an average return of 8.6% and a 48.28% success rate on recommended stocks.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $158.00 price target.