Neurocrine Bio. (NBIX) PT Raised to $166 at Wedbush

Wedbush analyst Laura Chico raised the price target on Neurocrine Bio. (NASDAQ: NBIX) to $166.00 (from $151.00) while maintaining a Outperform rating.

The analyst comments "Remain Outperform rated on NBIX, new $166 target. NBIX reached an agreement to acquire Soleno Therapeutics (SLNO - not covered) for $2.9B. While Vykat was not on our radar as a potential target for NBIX, we do think the Prader-Willi Syndrome (PWS) does make sense for NBIX's current infrastructure. NBIX anticipates deal closure in ~90 days, and we look for updated FY26 guidance after that time. For now, we assume ~$900M in debt to fund the transaction with the remainder of the deal being paid for with cash. We estimate the deal is accretive to both revenue and non-GAAP EPS starting in 2026, while we model Vykat US revenue reaching $995M in FY30 and peak market share ~19% with no ex-US revenue contribution. The net of these changes moves our target to $166 (prior $151) and we continue to hold a positive bias on NBIX. Bottom line, we see the deal coming in at a reasonable price while diversifying the revenue mix can only help."

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