H.C. Wainwright analyst Andrew Fein has adjusted the firm's price target for Neurocrine (NBIX, Financial), decreasing it from $185 to $168, while maintaining a Buy rating on its shares. This revision comes as the firm reassesses its revenue expectations for Ingrezza, Neurocrine's flagship drug, in light of evolving payer dynamics and rising competition in the market.
The decision reflects the need to account for these market shifts and adjust spending projections, given the company's expanding pipeline. Despite the revised target, the Buy rating indicates continued confidence in the stock's potential, albeit with a more cautious approach to its financial forecasts.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 23 analysts, the average target price for Neurocrine Biosciences Inc (NBIX, Financial) is $157.01 with a high estimate of $192.00 and a low estimate of $96.00. The average target implies an upside of 55.94% from the current price of $100.68. More detailed estimate data can be found on the Neurocrine Biosciences Inc (NBIX) Forecast page.
Based on the consensus recommendation from 26 brokerage firms, Neurocrine Biosciences Inc's (NBIX, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Neurocrine Biosciences Inc (NBIX, Financial) in one year is $191.95, suggesting a upside of 90.65% from the current price of $100.68. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Neurocrine Biosciences Inc (NBIX) Summary page.
