Sean Laaman, an analyst from Morgan Stanley, has initiated a new Buy rating on Neurocrine (NBIX).
Sean Laaman has given his Buy rating due to a combination of factors influencing Neurocrine Biosciences’ potential for growth. One of the primary reasons is the anticipated revenue from Ingrezza and Crenessity, with a projected peak revenue of approximately $5.7 billion. Despite competitive pressures and pricing challenges, Ingrezza is expected to capture a significant market share, potentially reaching $3.3 billion in peak sales by 2035, surpassing current consensus estimates.
Additionally, Crenessity is projected to exceed initial sales expectations, with investor sentiment suggesting a stronger launch than anticipated by the sell-side. Furthermore, Neurocrine’s robust balance sheet is seen as a strategic asset that can support the advancement of its pipeline, particularly in late-stage programs for schizophrenia and depression. These factors collectively contribute to the positive outlook and the Overweight rating assigned by Sean Laaman.
In another report released on March 5, TD Cowen also maintained a Buy rating on the stock with a $165.00 price target.
NBIX’s price has also changed slightly for the past six months – from $120.170 to $112.660, which is a -6.25% drop .