Neurocrine Bio. (NBIX) PT Lowered to $192 at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein lowered the price target on Neurocrine Bio. (NASDAQ: NBIX) to $192.00 (from $198.00) while maintaining a Buy rating.

The analyst commented: "Neurocrine ended 2025 with significant momentum, driven by Ingrezza’s record prescriptions and Crenessity’s impressive launch year. However, 2026 guidance of $2.7B–$2.8B for Ingrezza (~10% growth), although momentarily disappointing might reflect a net price headwind due to strategic "price-for-access" trade-offs ahead of 2027 IRA impacts, in our opinion. However, we note Neurocrine is not alone in this situation and does not reflect inherent weakness in the commercial uptake of the legacy product. We think despite management's cautious 2026 outlook, our KOL conversations reinforce the clinical "wonder drug" status of Crenessity for the reasons discussed within. Given the company's conservative guidance, we revisited the revenue potential estimates of Ingrezza and the Crenessity penetration rate which reduces our PT from $198 to $192."

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