Analyst Sean Laaman of Morgan Stanley maintained a Buy rating on Neurocrine, retaining the price target of $163.00.
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Sean Laaman has given his Buy rating due to a combination of factors, primarily focusing on the promising potential of Neurocrine’s Osavampator for treating major depressive disorder (MDD). The Phase 2 clinical data presented at the Psych Congress demonstrated significant clinical benefits, highlighting Osavampator’s potential as a first-in-class treatment with blockbuster potential.
The data revealed a competitive clinical profile for the AMPA positive allosteric modulator (PAM), indicating that it could serve as an effective chronic, low-dose therapy for MDD. The improvement in effect size from Day 28 to Day 56 further supports its potential efficacy. Despite some challenges with the dose-response relationship, the overall clinical benefits and the undervaluation of the AMPA program contribute to the positive outlook for Neurocrine’s stock.
According to TipRanks, Laaman is a 4-star analyst with an average return of 6.5% and a 60.00% success rate. Laaman covers the Healthcare sector, focusing on stocks such as Neurocrine, BioMarin Pharmaceutical, and Sigma Healthcare Ltd.
In another report released on September 19, Evercore ISI also maintained a Buy rating on the stock with a $200.00 price target.