Morgan Stanley analyst Sean Laaman maintained a Buy rating on Neurocrine yesterday and set a price target of $168.00.
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Sean Laaman’s rating is based on several positive indicators for Neurocrine Biosciences. The continued growth in the VMAT2 market, particularly with Ingrezza showing a 5% increase in total prescriptions and a 6% rise in new prescriptions, supports a strong revenue outlook. The company’s performance aligns with consensus estimates, indicating stability and potential for sustained growth.
Additionally, the launch of Crenessity is building a solid commercial foundation, with expectations for continued revenue growth in the second half of the year. Despite potential pricing pressures from competitors like Austedo, the company’s strategic positioning and pipeline potential, particularly with upcoming data for NBI-‘770, contribute to a positive long-term outlook. These factors collectively justify the Buy rating, with an updated price target reflecting increased revenue projections.
In another report released on October 13, Wells Fargo also maintained a Buy rating on the stock with a $180.00 price target.