Analyst Phil Nadeau of TD Cowen maintained a Buy rating on Neurocrine (NBIX – Research Report), retaining the price target of $165.00.
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Phil Nadeau’s rating is based on the potential for long-term growth driven by Neurocrine’s key products and pipeline advancements. Despite recent revenue figures falling short of consensus estimates, the company has a history of conservative guidance, which it often surpasses as the year progresses. This historical pattern suggests that future performance may exceed initial projections, providing investors with an opportunity for gains.
Additionally, the recent market launch of Crenessity shows promise, with early patient engagement and educational initiatives underway. The company’s commitment to advancing its pipeline towards significant milestones by 2025 further bolsters the investment thesis. Given these factors, the Buy rating reflects confidence in Neurocrine’s ability to achieve sustained growth and navigate challenges in the market.
In another report released on February 4, Bank of America Securities also maintained a Buy rating on the stock with a $184.00 price target.