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Stifel analysts have maintained their Buy rating and $166.00 price target on Neurocrine Biosciences (NASDAQ:NBIX) shares, following a survey of physicians that indicates strong performance of the company’s drug Crenessity, particularly among adults with congenital adrenal hyperplasia (CAH). The survey, which included 20 doctors, revealed approximately 80 total prescriptions of Crenessity were written in just a few months, signaling a robust start for the drug’s launch.
The analysts noted that Crenessity’s uptake among patients mirrors that of Voxzogo rather than Daybue or Skylcarys, with physicians initially prescribing the treatment to a few patients and planning to increase usage over time. This gradual adoption is attributed to CAH being an unmet medical need, despite the availability of less expensive steroid treatments.
The positive feedback from physicians suggests that Crenessity could exceed expectations in peak sales, particularly given its promising start in the adult CAH population. This could lead to potential upside in the drug’s sales projections for 2025 and 2026, which the analysts believe could surpass current consensus estimates.
In addition to Crenessity’s performance, the analysts remarked on Ingrezza, another Neurocrine Biosciences product. While they described the Ingrezza situation as nuanced, there is a sense that investor expectations have been significantly recalibrated as the market anticipates the first quarter results of 2025.
The Stifel report concludes with an optimistic outlook for Neurocrine Biosciences, especially in light of the new data regarding Crenessity’s market uptake and the potential for sales to outperform expectations in the coming years.
In other recent news, Neurocrine Biosciences has been the focus of several analyst updates and company developments. H.C. Wainwright adjusted its price target for Neurocrine Biosciences to $168 from $185, maintaining a Buy rating, due to the market launch of Crenessity, a drug for congenital adrenal hyperplasia (CAH). Meanwhile, Needham upgraded the stock from Hold to Buy with a $138 target, expressing confidence in the company meeting its 2025 revenue guidance of $2.5-2.6 billion and predicting Crenessity sales will exceed consensus estimates for 2026 and beyond. RBC Capital Markets also upgraded Neurocrine to Outperform, setting a price target of $137, citing the strong commercial performance of Ingrezza, a treatment for tardive dyskinesia.
UBS revised its price target for Neurocrine to $137, down from $154, while maintaining a Buy rating, highlighting the company’s favorable risk/reward balance and its focus on Ingrezza’s growth trajectory. In a separate development, Neurocrine Biosciences announced the appointment of Dr. Sanjay Keswani as Chief Medical (TASE:BLWV) Officer, effective June 2, 2025. Dr. Keswani, with over 20 years of experience in the pharmaceutical industry, will oversee the company’s clinical development and medical affairs. This appointment follows the transition of Dr. Eiry W. Roberts to a strategic advisory role after her significant contributions to the company’s drug development efforts.
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