In a report released yesterday, Mohit Bansal from Wells Fargo maintained a Buy rating on Neurocrine, with a price target of $180.00.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Mohit Bansal has given his Buy rating due to a combination of factors influencing Neurocrine’s performance. One of the key reasons is the anticipated strong growth in sales for Crenessity, driven by an expanding patient base and improved reimbursement rates. The clinical profile of Crenessity is expected to support treatment durability, which could lead to better-than-expected sales figures.
Additionally, while Ingrezza’s sales might not see a guidance raise yet, the product has shown positive trends with increased script growth and a slight improvement in market share against competitors. Despite potential challenges from changes in Part D formulary coverage, the overall sales efforts and market dynamics suggest a promising outlook for Neurocrine, justifying the Buy rating.
In another report released yesterday, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $182.00 price target.