Neurocrine price target lowered to $147 from $157 at Wedbush

Wedbush analyst Laura Chico lowered the firm’s price target on Neurocrine (NBIX) to $147 from $157 and keeps an Outperform rating on the shares. With Ingrezza falling short of Q4 expectations and FY25 Ingrezza revenue guidance coming in below preexisting consensus, shares are likely to come under pressure following the update, the firm says. For its part, Wedbush thinks expectations may have gotten ahead of themselves. However, with the majority of the tardive dyskinesia market still not being treated with a VMAT2-inhibitor and Neurocrine increasing its field force, the firm thinks FY25 guidance appears achievable, if not beatable.