H.C. Wainwright analyst Andrew Fein has maintained their bullish stance on NBIX stock, giving a Buy rating today.
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Andrew Fein has given his Buy rating due to a combination of factors that highlight Neurocrine’s promising prospects. The failure of the NMDA-based approach in depression, as seen with NBI-1070770, underscores the challenges in this area, but it also brings attention to the success of osavampator (‘845). This compound, an AMPA positive allosteric modulator, has shown differentiated proof of concept in the SAVITRI study with durable efficacy and a favorable safety profile.
Unlike esketamine, which requires in-clinic administration and has side effects, osavampator offers a convenient once-daily oral administration without the associated burdens. The statistically significant results from the Phase 2 study, along with its outpatient convenience, position osavampator as a compelling alternative in major depressive disorder treatment. Additionally, the projected revenue growth for Ingrezza strengthens Neurocrine’s financial outlook, further supporting the Buy rating.
In another report released today, Canaccord Genuity also reiterated a Buy rating on the stock with a $164.00 price target.