Ami Fadia, an analyst from Needham, reiterated the Buy rating on Neurocrine. The associated price target was raised to $170.00.
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Ami Fadia has given his Buy rating due to a combination of factors related to Neurocrine’s recent developments. The company presented promising Phase 2 data for osavampator at the Psych Congress 2025, showing that the lower 1mg dose had a statistically significant impact over placebo, with a response rate of 56.4% and remission rates of 48.7% by day 56. This data supports the continued development of osavampator in major depressive disorder, with the 1mg dose being chosen for Phase 3 studies.
Ami Fadia’s confidence is further bolstered by the management’s expectations regarding the inverse dose response, which aligns with the mechanism of action observed in other therapies for major depressive disorder. As a result, the probability of success for osavampator has been increased from 30% to 45%, and the price target for Neurocrine’s stock has been raised to $170, reinforcing the Buy recommendation.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $163.00 price target.