Oppenheimer raised the firm’s price target on Neurocrine (NBIX) to $220 from $192 and keeps an Outperform rating on the shares. The firm sees Neurocrine’s acquisition of Soleno Therapeutics (SLNO) as an ideal example of its industry-leading BD expertise considering the attractive $2.9B transaction value relative to the large and synergistic opportunity with Vykat XR for Prader-Willi Syndrome. Vykat remains the first and only FDA-approved therapy for hyperphasia in PWS patients with $190M in 2025, only three quarters into launch, and Oppenheimer anticipates Neurocrine to leverage its medical and commercial infrastructure for Crenessity and Ingrezza to accelerate sales.
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