Neurocrine Biosciences' Positive Crenessity Physician Survey Turns This Analyst Bullish

A physician survey for Neurocrine Biosciences Inc's NBIX Crenessity suggests "strong uptake across all patient segments," according to Needham. 

The Neurocrine Biosciences Analyst: Analyst Ami Fadia upgraded the rating from Hold to Buy, while raising the price target to $138.

The Neurocrine Biosciences Thesis: The unmet need in patients suffering from congenital adrenal hyperplasia (CAH) is high, with around 70% of patients "being good candidates for Crenessity," Fadia said in the upgrade note.

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The survey showed that physicians anticipate the medicine being used in around 40% of pediatric patients, 35% of adult female patients and 32% of adult male patients, significantly higher than the prior expectations of 20%, 5% and 5%, respectively, she added.

Crenessity's use is expected to reach the 20%-30% range across patient groups by year-end 2030, the analyst stated. Assuming more conservative figures of 20%, 12% and 8% in the three categories, the sales estimate reaches around $1 billion in 2030, she said.

"The pullback in NBIX due to concerns on Ingrezza’s 1Q25 dynamics are overdone in our view, as we think it can still hit 2025 guidance of $2.5-2.6B," the analyst further wrote.

NBIX Price Action: Shares of Neurocrine Biosciences had risen by 0.26% to $95.14 at the time of publication on Tuesday.

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