Bond.az - Bernstein SocGen Group initiated coverage on Neurocrine Biosciences Inc. shares (NASDAQ:NBIX) with an outperform rating and a price target of $221.00 on Wednesday. The target implies significant upside from the current price of $155.49.
Wall Street analysts have a consensus target range between $144 and $250.65. According to Bond.az analysis, the stock appears undervalued at current levels.
The firm views Neurocrine as one of the most promising investments in its initial coverage group of mid-cap biopharmaceutical companies. The company's two key medicines, Crenessity and Ingrezza, are both approved with loss-of-exclusivity dates in 2035 and 2038, respectively.
Bernstein believes the market is underestimating the potential of both Crenessity for Congenital Adrenal Hyperplasia and osavampator for Major Depressive Disorder. Crenessity holds an approximately four-year first-mover advantage as the only FDA-approved adjunctive treatment for Congenital Adrenal Hyperplasia.
The firm projects peak revenue of $2.4 billion for Crenessity, which is 57% higher than consensus estimates, citing strong data and a favorable competitive landscape. The drug has potential to reduce glucocorticoid dose and associated morbidities including obesity, diabetes and osteoporosis.
Osavampator's projected label for depression depends on its ongoing registrational clinical trial, though preliminary data suggests potential for best-in-class efficacy with a favorable safety profile.
In other recent news, Neurocrine reported strong Q1 2026 performance with EPS of $1.94 (beating $1.17 estimate) and revenue of $811 million (above $766.85 million estimate).
