Neurocrine Bio. (NBIX) PT Raised to $210 at Canaccord

Canaccord analyst Sumant Kulkarni raised the price target on Neurocrine Bio. (NASDAQ: NBIX) to $210.00 (from $200.00) while maintaining a Buy rating.

The analyst commented: "NBIX reported its 2Q26 results after the close yesterday (7/30). Sales of Ingrezza (valbenazine for tardive dyskinesia/TD, Huntington's chorea)/Crenessity (crinecerfont for classic congenital adrenal) came in at $716mn/ $184mn, which blew past our $675mn/$146mn and consensus of $688mn/$169mn. This was the first quarter including the recent acquisition of Soleno, and Vykat XR (diazoxide choline extended release) for hyperphagia (excessive appetite) in Prader-Willi syndrome (PWS) had partial quarter sales of $54mn, a performance that management characterized as meeting internal expectations with Soleno integration on track. Overall, we are encouraged by the solid commercial performance, which we continue to view as a key stock driver, especially as we wait for meaningful pipeline-driven catalysts in 2027E and beyond. With three commercial products firing nicely, we continue to view NBIX as undervalued on the approved products alone. So, despite the stock up ~31% in 2026 (SPX: +9.2%; XBI: +24.2%), we still see further upside based on the potential for NBIX to continue to play to its commercialization strengths. At the same time, we continue to view NBIX's relatively-large pipeline that targets several large indications in neuropsychiatry, obesity, etc., as not in the stock in any meaningful way at current levels. As such, our BUY now on solid execution, ahead of the pipeline gaining attention thesis remains on track. Taking PT up to $210 on continued commercial execution."

You May Also Be Interested In

• Medtronic, Inc. (MDT) PT Raised to $115 at Mizuho
• Varonis Systems (VRNS) 1500 contracts of June 70 calls trade, share price up 11.5%
• Braze Inc (BRZE) PT Raised to $40 at DA Davidson