William Blair analyst Myles Minter has reiterated their bullish stance on NBIX stock, giving a Buy rating today.
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Myles Minter has given his Buy rating due to a combination of factors that highlight Neurocrine’s strong research and development pipeline and its potential for long-term value creation. The company’s announcement of its CRF2 agonist program for obesity stands out, with preclinical data showing promising effects like differentiated tolerability and muscle-sparing capacity, echoing the efficacy of existing metabolic treatments while addressing key areas of improvement. Although clinical data for these programs is forthcoming, the foundational preclinical research offers optimism about potential market innovation.
Beyond obesity, the analyst emphasizes Neurocrine’s advances in its neuropsychiatry portfolio, where clean safety profiles for its AMPA and muscarinic programs remain pivotal. The focus on clinically validated pathways with improved tolerability and safety is seen as a strategic advantage. Additionally, while the near-term catalysts appear limited, Neurocrine’s ability to execute on its existing commercial portfolio and the longer-term prospects of its comprehensive R&D efforts maintain a positive outlook, solidifying Minter’s confidence in the company’s growth trajectory.
In another report released today, Needham also maintained a Buy rating on the stock with a $184.00 price target.