Jefferies analyst Akash Tewari maintained a Buy rating on Neurocrine (NBIX – Research Report) today and set a price target of $160.00.
Akash Tewari has given his Buy rating due to a combination of factors influencing Neurocrine’s market potential. The survey conducted among US-based endocrinologists indicates a significant unmet need for Crenessity, especially among patients not well-controlled on current glucocorticoid therapies. The initial reception of Crenessity is promising, with a notable percentage of physicians already prescribing it and expecting to increase prescriptions over time.
Moreover, the anticipated growth in patient coverage and reimbursement rates further supports the positive outlook. The survey also highlights the potential for Crenessity to achieve substantial market penetration by 2030, particularly in the pediatric segment. Additionally, compliance rates are expected to remain high, and the competitive landscape suggests a preference for Crenessity’s benefits over its competitors, despite some concerns about liver enzyme elevations in alternative treatments.
In another report released on February 25, J.P. Morgan also maintained a Buy rating on the stock with a $183.00 price target.
Based on the recent corporate insider activity of 135 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NBIX in relation to earlier this year.