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Investing.com - BMO Capital raised its price target on Neurocrine Bio. (NASDAQ:NBIX) to $124.00 from $115.00 on Thursday, while maintaining a Market Perform rating on the stock. The company, currently valued at $13.5 billion, trades at a high earnings multiple according to InvestingPro data, with analyst targets ranging from $124 to $192.
The price target increase reflects higher projected revenues for Crenessity, following what BMO described as a strong start to the product’s launch. Crenessity beat consensus expectations by 122% in the latest financial results.
Despite the positive performance of Crenessity, BMO noted that concerns around Ingrezza’s performance in the second half of the year overshadowed the results. The company cut the top end of its Ingrezza guidance.
BMO pointed to a strong financial report from Teva, coupled with Neurocrine’s reduced guidance, as indicators of potential continued pricing headwinds from Teva’s Austedo affecting Ingrezza sales through the remainder of the year.
According to BMO, Neurocrine’s management expects stabilization in 2026, though uncertainty remains about the competitive landscape and pricing pressures in the near term.
In other recent news, Neurocrine Biosciences Inc reported strong financial results for the second quarter of 2025, surpassing analysts’ expectations. The company achieved earnings per share of $1.65, which was significantly higher than the anticipated $0.96, marking a surprise increase of 71.88%. Additionally, Neurocrine Biosciences reported revenue of $687.5 million, exceeding the forecasted $653.32 million by 5.23%. These results highlight the company’s robust performance during this period. Such financial achievements are crucial for investors as they provide insight into the company’s current financial health. The earnings beat and revenue growth are notable developments for Neurocrine Biosciences. This information follows recent analyst activity, although no specific upgrades or downgrades were mentioned. Overall, these recent developments paint a factual picture of the company’s financial standing.
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