Neurocrine Bio. (NBIX) Management Meeting Indicates Ingrezza Net Realized Price Could Increase Over Time - Piper Sandler

Piper Sandler analyst David Amsellem reiterated an Overweight rating and $126.00 price target on Neurocrine Bio. (NASDAQ: NBIX) after hosting a virtual management meeting as part of Piper's BioInsights Virtual West Coast Bus Tour. The bulk of the presentation focused on Ingrezza with the key takeaway being based on pricing commentary.

The analyst stated "The net realized price per prescription (Rx) for Ingrezza has been ~$5,400, down from ~$5,600-$5,700 in 2020." He went on to note "the commentary from management surrounding net realized price was heartening. Recall that very early on in the commercial life of Ingrezza, NBIX’s strategy was to shy away from contracting with payers (Teva Pharma (NYSE: TEVA) was more aggressive on this front with Austedo). As the footprint of Ingrezza (and the VMAT2 inhibitor class as a whole) has grown, NBIX’s thinking has evolved, whereby the company is contracting selectively. As such, there was more contracting activity surrounding Ingrezza last year. That said, management noted that going forward it does not expect to be (or need to be) aggressive regarding contracting, and actually expects that the Ingrezza net realized price per Rx should be flat to slightly up over time."

For an analyst ratings summary and ratings history on Neurocrine Bio. click here. For more ratings news on Neurocrine Bio. click here.

Shares of Neurocrine Bio. closed at $89.12 yesterday.

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