In a report released yesterday, Yigal Nochomovitz from Citi maintained a Buy rating on Neurocrine, with a price target of $203.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Yigal Nochomovitz has given his Buy rating due to a combination of factors showcasing Neurocrine’s innovation and potential in its product pipeline. During the company’s investor day, management emphasized the strong legacy of R&D capabilities and their ambitious goal to develop and commercialize a new drug every two years. This high level of research expertise provides confidence in the company’s ability to successfully target significant therapeutic areas.
Notably, Neurocrine presented promising updates on its clinical programs, including osavampator for major depressive disorder and direclidine for schizophrenia. Osavampator’s differentiation from existing treatments, such as reduced side effects and potential at-home administration advantages, could make it appealing to broader patient groups. Similarly, direclidine addresses several clinical limitations of competing medications, improving patient compliance and tolerability. Furthermore, Neurocrine’s emerging obesity program utilizing CRF platform technologies demonstrates additional growth potential, reflecting the company’s capacity to explore multi-billion-dollar market opportunities. These catalysts appear to align with long-term value creation.
Nochomovitz covers the Healthcare sector, focusing on stocks such as Neurocrine, Zymeworks, and Arcus Biosciences. According to TipRanks, Nochomovitz has an average return of 5.3% and a 40.65% success rate on recommended stocks.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $191.00 price target.