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Investing.com - RBC Capital raised its price target on Neurocrine Biosciences (NASDAQ:NBIX) to $149 from $144 while maintaining an Outperform rating on the stock. The company, currently trading at $140.40 with a market capitalization of $13.5 billion, has caught analysts’ attention, with InvestingPro data showing 10 analysts recently revising their earnings estimates upward.
The firm’s analysis of prescription trends indicates Crenessity’s launch is performing strongly and likely to exceed third-quarter consensus expectations.
RBC estimates Ingrezza sales of $695 million versus consensus of $664 million, and Crenessity sales of $80 million compared to consensus estimates of approximately $68 million.
Despite acknowledging that shares have appreciated closer to fair value and noting medium-term Inflation Reduction Act uncertainties around Ingrezza, RBC believes strong third-quarter performance could drive additional momentum.
The price target increase reflects higher estimates, with RBC citing increasing comfort around contracting that should stabilize Ingrezza pricing in the medium term and enable demand growth.
In other recent news, Neurocrine Biosciences reported strong financial results for the second quarter of 2025, with earnings per share reaching $1.65, surpassing analysts’ expectations of $0.96. The company also reported revenue of $687.5 million, exceeding the forecast of $653.32 million. Ingrezza sales were approximately $624 million, slightly above the consensus estimate of $621 million. Guggenheim responded by raising its price target for Neurocrine Biosciences to $175, maintaining a Buy rating. Mizuho also increased its price target to $145 from $140, citing solid second-quarter results and maintaining a Neutral rating. BMO Capital raised its price target to $124, reflecting higher projected revenues for Crenessity, which outperformed expectations by 122%. These developments highlight positive analyst sentiment following the company’s earnings report.
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