Guggenheim raised its price target on Neurocrine Biosciences (NASDAQ: NBIX) to $224 from $207, while keeping its Buy rating, after the company reported revenue growth and results above analyst expectations, according to Investing.com.
Neurocrine reported total revenue of $1.12 billion, up 41% year over year. Ingrezza generated about $801 million, roughly 9% above the $737 million consensus estimate. The result included a $20 million benefit from order timing, which the company expects to reverse in the fourth quarter.
The company increased its fiscal 2026 revenue outlook to between $2.9 billion and $2.925 billion, from a previous range of $2.825 billion to $2.875 billion. At the midpoint, the revised forecast represents approximately 16% year-over-year growth. Neurocrine also expects double-digit volume growth in 2027 to offset a mid-to-high-single-digit net price concession.
Crenessity revenue was approximately $211 million, exceeding the $203 million consensus estimate, and is now running at an annualized rate above $800 million. VYKAT XR brought in about $107 million, compared with an estimate of $97 million. Neurocrine said recent external events are expected to delay the product’s growth trajectory.
The company has scheduled a research and development day for December 15. It expects several data readouts in 2027, including Phase 3 results for osavampator in major depressive disorder and direclidine in schizophrenia during the second half of the year. In separate analyst actions reported after the results, Cantor Fitzgerald reiterated an Overweight rating with a $215 price target, while Baird maintained an Outperform rating and set a $225 target.
Sources: Investing.com News.