Analyst Phil Nadeau from TD Cowen maintained a Buy rating on Neurocrine and increased the price target to $170.00 from $165.00.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Phil Nadeau has given his Buy rating due to a combination of factors that highlight Neurocrine’s strong growth potential. The company reported impressive Q2 revenue for its Crenessity product, significantly surpassing market expectations with a 267% quarter-over-quarter increase. This robust performance is attributed to successful campaigns that have enhanced clinician and patient awareness, leading to a higher-than-anticipated adoption rate.
Furthermore, despite some pricing pressures, Ingrezza’s revenue met consensus estimates, and the company continues to experience record patient starts. Neurocrine’s strategic initiatives, including an expanded field force and direct-to-consumer campaigns, are expected to drive further growth. These factors, coupled with an increased price target from $165 to $170, underscore the positive outlook for Neurocrine, justifying the Buy rating.
In another report released on July 28, Morgan Stanley also maintained a Buy rating on the stock with a $150.00 price target.