Analyst Phil Nadeau of TD Cowen maintained a Buy rating on Neurocrine (NBIX – Research Report), retaining the price target of $165.00.
Phil Nadeau has given his Buy rating due to a combination of factors including Neurocrine’s strong financial performance and promising growth prospects. The company reported $545 million in revenue for Ingrezza in the first quarter, which met consensus expectations and demonstrated resilience despite a challenging payor environment. This performance suggests strong underlying demand and sets the stage for continued momentum throughout the year.
Additionally, the newly launched Crenessity has shown an impressive start with $14.5 million in revenue and a higher than expected number of patient start forms. This indicates a positive reception in the market and potential for further growth. The company’s strategic efforts to expand market share and improve patient access through contracting with payors are also seen as beneficial moves to support long-term growth. These factors collectively underpin Nadeau’s optimistic outlook and Buy rating for Neurocrine’s stock.
In another report released on April 29, Oppenheimer also maintained a Buy rating on the stock with a $192.00 price target.