Neurocrine stock price target raised to $174 from $152 at UBS on Crenessity uptake

Investing.com - UBS raised its price target on Neurocrine Biosciences (NASDAQ:NBIX) to $174 from $152 while maintaining a Buy rating, citing positive indicators for the company’s Crenessity drug launch. The new target aligns with broader analyst optimism, as InvestingPro data shows 8 analysts have recently revised their earnings estimates upward, with price targets ranging from $115 to $192.

The investment firm increased its valuation multiple to 5.25x EV/2030 estimated sales from 4.5x previously, reflecting what it describes as "an increasing growth narrative" supported by early positive signs from the Crenessity launch. This growth narrative is supported by the company’s impressive 21.73% revenue growth and "GREAT" financial health score according to InvestingPro analysis.

UBS’s physician checks suggest continued robust patient additions for Crenessity, with expectations of at least 400 new patient starts in the second quarter, comparable to the 413 patient starts reported in the first quarter.

The firm projects $25 million in second-quarter revenue for Crenessity, above the consensus estimate of $22 million, though it notes sales remain subject to variability due to reimbursement timing and patient therapy duration.

UBS’s full-year 2025 sales estimates stand 7% above consensus, while its projections for 2026-2030 range between 24-41% higher than consensus forecasts.

In other recent news, Neurocrine Biosciences reported new data showing that its drug Ingrezza significantly reduced cognitive and motor-related burdens in adults with Huntington’s disease chorea. The Phase 3 KINECT-HD study revealed improvements in symptoms like memory loss and decision-making abilities. Additionally, the company presented analyses showing that older adults with tardive dyskinesia experienced significant improvements in health-related quality of life when treated with Ingrezza. Neurocrine Biosciences also announced the appointment of Lewis (JO:LEWJ) Choi as its new Chief Information Officer to lead technology strategy and support treatment development. Meanwhile, Guggenheim analysts maintained a Buy rating on Neurocrine, citing growth prospects and positive trends in the launch of Crenessity. RBC Capital analysts reaffirmed an Outperform rating, expressing confidence in the company’s second-quarter performance and growth in new prescriptions. Both analyst firms noted the potential for market expansion in the VMAT2 inhibitor space, despite challenges from the Inflation Reduction Act affecting competitor pricing. These developments underscore Neurocrine’s ongoing efforts in advancing its clinical pipeline and product offerings.

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