Bank of America Securities analyst Tazeen Ahmad has maintained their bullish stance on NBIX stock, giving a Buy rating yesterday.
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Tazeen Ahmad’s rating is based on the promising results from Neurocrine Biosciences’ phase 2 trial of osavampator, which showed statistically significant improvement in patients with refractory major depressive disorder at a low dose. The 1 mg dose of osavampator demonstrated a significant reduction in depression scores compared to placebo, with the effect size increasing over time, indicating sustained efficacy. Although the higher 3 mg dose did not reach statistical significance, it still showed positive trends, which is encouraging for the drug’s potential.
Additionally, the safety profile of osavampator was comparable to placebo, with adverse events being generally mild and manageable. This positive safety data, combined with the efficacy results, supports the potential of osavampator as a treatment for major depressive disorder. The ongoing phase 3 trial, expected to conclude in 2027, further strengthens the outlook for Neurocrine’s stock, justifying the Buy rating with a price objective of $191.
According to TipRanks, Ahmad is an analyst with an average return of -2.2% and a 49.59% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, PTC Therapeutics, and Sarepta Therapeutics.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $169.00 price target.