Analyst Ami Fadia of Needham maintained a Buy rating on Neurocrine (NBIX – Research Report), retaining the price target of $139.00.
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Ami Fadia has given his Buy rating due to a combination of factors that highlight Neurocrine’s promising clinical developments. The recent updates on the clinical profile for NBI-568 have been incrementally positive, particularly with the initiation of the Phase 3 study and the disclosure of updated Phase 2 data. These developments reflect management’s confidence in the asset’s progression.
The Phase 3 study design, which evaluates the primary endpoint at 5 weeks, shows improved efficacy data for NBI-568, making it competitive against KarXT. Although the placebo-adjusted change is slightly higher for KarXT, the efficacy score for NBI-568 is strong. Additionally, the safety profile remains consistent with previous updates, with no new adverse events reported. These factors collectively support the Buy rating for Neurocrine’s stock.
Fadia covers the Healthcare sector, focusing on stocks such as Jazz Pharmaceuticals, Axsome Therapeutics, and Merus. According to TipRanks, Fadia has an average return of 0.4% and a 44.06% success rate on recommended stocks.
In another report released on May 26, Stifel Nicolaus also maintained a Buy rating on the stock with a $166.00 price target.