Yigal Nochomovitz, an analyst from Citi, has initiated a new Buy rating on Neurocrine (NBIX).
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Yigal Nochomovitz has given his Buy rating due to a combination of factors influencing Neurocrine’s stock. One of the primary reasons is the strong commercial pipeline, particularly the potential of Ingrezza to maintain its market position as a leading VMAT2 inhibitor. Despite concerns about Medicare price negotiations affecting Ingrezza, Nochomovitz believes that the drug’s best-in-class profile and pricing strategies post-2027 will help sustain its market share.
Additionally, the promising launch of Crenessity, with its lack of competition, is expected to contribute significantly to revenue growth. The stock’s current valuation reflects only the commercial pipeline, with late-stage clinical programs like osavampator and direclidine offering further upside potential. Moreover, Neurocrine’s strategic efforts to expand formulary access and improve patient outreach are anticipated to have long-term benefits, enhancing the company’s market penetration and sales growth prospects.
Nochomovitz covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Summit Therapeutics, and Arcus Biosciences. According to TipRanks, Nochomovitz has an average return of 7.6% and a 42.74% success rate on recommended stocks.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $168.00 price target.