Mohit Bansal, an analyst from Wells Fargo, maintained the Buy rating on Neurocrine (NBIX – Research Report). The associated price target remains the same with $180.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Mohit Bansal has given his Buy rating due to a combination of factors including Neurocrine’s history of conservative guidance and its potential for growth. Despite the company’s guidance appearing lower than expected, this is consistent with their tradition of under-promising and over-delivering, as seen in previous years where actual results surpassed initial forecasts. This pattern suggests that Neurocrine’s final financial outcomes might align closely with market expectations.
Additionally, the market for Neurocrine’s key product, Ingrezza, continues to grow, albeit with some market share loss to competitors. However, the overall market expansion and strategic sales efforts expected in the latter half of the year could drive substantial revenue. The company’s ongoing commitment to building its product pipeline, rather than relying on external business development, also indicates a proactive approach towards long-term growth, further supporting the Buy rating.
According to TipRanks, Bansal is a 4-star analyst with an average return of 5.7% and a 55.31% success rate. Bansal covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Amgen, and AbbVie.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $165.00 price target.