NBIX - Neurocrine defended by analysts despite Q3 miss

Neurocrine Biosciences (NBIX -10.3%) has recorded the biggest intraday loss since Nov. 2020, even as Wall Street stands behind the neuroscience-focused biotech after lower-than-expected financials posted by the company for Q3 2021. Hurt by a delayed return to pre-pandemic momentum, Tardive Dyskinesia (TD) therapy, INGREZZA, lagged the consensus estimates as limits on in-person patient visits impact its uptake, H.C. Wainwright analyst Andrew S. Fein argues. He adds that the continued use of telemedicine and telepsychiatry by doctors curtails the ability to identify the TD symptoms and inform patients that the condition is treatable. Fein reiterates the Buy rating and the $140 per share target for the stock to imply a premium of ~31.8% to the last close. Meanwhile, Mizuho analyst Vamil Divan has increased the price target to $103 from $99, indicating a downside of ~3.0% to the last close. “Overall Ingrezza trends appear encouraging and should provide support to NBIX

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Neurocrine defended by analysts despite Q3 miss