TD Cowen analyst Phil Nadeau has maintained their bullish stance on NBIX stock, giving a Buy rating today.
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Phil Nadeau has given his Buy rating due to a combination of factors that highlight Neurocrine’s strong performance and growth potential. The company reported impressive third-quarter results, with Crenessity achieving $98 million in revenue, marking an 84% increase quarter-over-quarter. This growth is supported by a steady rate of new patient additions, suggesting sustainable demand for the product.
Furthermore, Ingrezza’s revenue of $687 million exceeded expectations, driven by a record number of new patient additions. The company’s strategic expansion of its sales force and high reimbursement rates further bolster its growth outlook. These factors, combined with an increase in the price target from $170 to $175, underpin Nadeau’s confidence in Neurocrine’s continued success, justifying the Buy rating.
NBIX’s price has also changed moderately for the past six months – from $106.460 to $147.380, which is a 38.44% increase.