H.C. Wainwright analyst Andrew Fein has reiterated 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 highlighting Neurocrine’s strategic advancements and financial strength. The company’s unveiling of NBIP-2118, a novel obesity treatment that prioritizes maintaining lean muscle through CRF2 biology, represents a significant growth opportunity and differentiation from current therapies. This high-risk yet high-reward initiative is counterbalanced by the stability offered by a robust neuropsychiatry pipeline, featuring promising candidates like Osavampator for major depressive disorder and Direclidine for schizophrenia.
Backed by strong cash flows from its commercialized products, Ingrezza and Crenessity, Neurocrine is well-positioned to advance both its psychiatry programs toward pivotal trial readouts expected in 2027 and a Phase 1 proof-of-concept trial for NBIP-2118. Additionally, the company’s execution capabilities, coupled with recalibrated product sales assumptions, underpin Fein’s optimistic outlook, leading to a price target increase from $168 to $198. This diversification into multi-modality innovation and enhanced commercial potential showcases Neurocrine’s evolution into a more mature, diversified leader in its sector, justifying the Buy recommendation.