Analyst Paul Matteis from Stifel Nicolaus maintained a Buy rating on Neurocrine (NBIX – Research Report) and keeping the price target at $166.00.
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Paul Matteis has given his Buy rating due to a combination of factors influencing Neurocrine’s market position and future prospects. Despite a challenging 4Q and lower-than-expected guidance for 2025, the company’s Ingrezza product continues to show growth, maintaining approximately a 10% increase and benefiting from an extended exclusivity period. The management has acknowledged the headwinds, such as increased competition and evolving payor dynamics, and is actively addressing these issues, which reflects a proactive approach to market challenges.
Another significant factor is the early launch of crinecerfont, which, despite being in its initial stages, has shown promising demand signals and generated initial sales. Neurocrine’s strategy to gradually introduce crinecerfont, focusing on building a strong foundation and addressing reimbursement challenges, highlights their confidence in its long-term potential as a blockbuster product. These strategic considerations and the company’s ability to adapt to market dynamics underpin Matteis’s positive outlook on Neurocrine’s stock.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $165.00 price target.