Bank of America Securities analyst Tazeen Ahmad has maintained their bullish stance on NBIX stock, giving a Buy rating on November 6.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the promising commercial performance of Neurocrine’s existing products, Ingrezza and Crenessity. Despite the phase 2 study for NBI-1070770 not meeting its primary endpoint, the management sees potential in the data that warrants further analysis, indicating a proactive approach to research and development.
Additionally, the upcoming R&D Day is expected to provide updates on the company’s early-stage muscarinic portfolio and outline strategies for next-generation assets, which could enhance future growth prospects. The current stock price of $152.37 USD, with a price objective of $191.00 USD, suggests a significant upside potential, reinforcing the Buy recommendation.
According to TipRanks, Ahmad is a 2-star analyst with an average return of 0.5% and a 52.56% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Incyte, Ascendis Pharma, and Neurocrine.
In another report released on November 6, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $176.00 price target.