Neurocrine Biosciences' (NBIX) Ingrezza and Crenessity products are expected to drive H2 appreciation, ahead of a "catalyst-rich" 2027, RBC Capital Markets said in a Tuesday note.
Sales of both Ingrezza and Crenessity remain strong for the remainder of the year, while any improvement in Vykat's performance could provide upside, the brokerage said. Ingrezza is approved for the treatment of involuntary movement disorders, Crenessity for congenital adrenal hyperplasia and Vykat for hyperphagia.
A series of data readouts in 2027 serve as potential catalysts for Neurocrine Biosciences, including topline data from phase 3 studies of Osavampator in major depressive disorder, RBC said. Topline data from a phase 3 study of Direclidine in schizophrenia is also expected next year, the investment firm added.
Data from a phase 1 study of CRF2 agonist NBI-'2118 in obesity and a phase 2 study of VMAT2 inhibitor NBI-'890 in tardive dyskinesia are also slated for release in 2027, according to RBC.
RBC has an outperform rating and $198 price target on Neurocrine Biosciences.
Price: $156.05, Change: $+0.41, Percent Change: +0.26%