Tazeen Ahmad, an analyst from Bank of America Securities, maintained the Buy rating on Neurocrine. The associated price target remains the same with $191.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors that highlight Neurocrine’s robust development efforts and growth potential. The company has committed to advancing its research and development productivity, targeting one new medicine launch every two years, while expanding its focus to include innovative modalities like peptides and gene therapies. This strategic shift represents a proactive approach to diversifying its pipeline across neurology, psychiatry, endocrinology, and immunology, reinforcing its long-term growth prospects.
Another significant factor influencing the Buy rating is Neurocrine’s promising pipeline developments. For instance, its preclinical obesity program, ‘2118, introduces potential improvements over existing GLP-1 therapeutics by reducing fat mass without compromising lean mass. Besides, ongoing Phase 3 trials for major depressive disorder and schizophrenia demonstrate the company’s commitment to addressing unmet needs in neuropsychiatry, which could unlock value upon successful clinical outcomes. While clinical risks are inherent, Neurocrine’s strategic plans and innovative focus create an optimistic outlook for potential success.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $203.00 price target.