Neurocrine’s Growth Potential Driven by Ingrezza’s Market Share and Crenessity’s Uptake

Analyst Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on Neurocrine and keeping the price target at $183.00.

Tazeen Ahmad’s rating is based on the potential for Neurocrine’s Ingrezza to maintain a significant share in the growing VMAT2i market. Despite a slight decline in first-quarter sales, the expectation is for sales to recover and align with previous quarters, supported by management’s guidance and market trends. The analyst anticipates that the company’s reaffirmation of its FY25 sales guidance will bolster confidence in sales acceleration in the latter half of the year.
Furthermore, the strong initial uptake of Crenessity, with impressive reimbursement rates, suggests a promising opportunity in the CAH market. This, combined with the expectation of increased VMAT2i usage and stable market share for Ingrezza, supports the Buy rating. The price objective of $183 reflects the potential for growth in Neurocrine’s commercial franchises, making it an attractive investment opportunity.

In another report released on July 11, Wells Fargo also maintained a Buy rating on the stock with a $180.00 price target.

NBIX’s price has also changed slightly for the past six months – from $139.510 to $135.130, which is a -3.14% drop .