Neurocrine Biosciences Still Making Smart Moves To Build Long-Term Value

In a year that was always going to be relatively weak for stock-moving catalysts, Neurocrine Biosciences (NBIX) is at least hitting the mark with respect to execution. Not only did Ingrezza once again come in ahead of expectations, but the company is doing what it can to prepare to advance clinical programs once Covid-19 restrictions ease.

Ingrezza continues to represent the overwhelming majority of Neurocrine’s value, but investors can still look forward to meaningful revenue acceleration from here on the way toward over $2.5 billion in revenue. Neurocrine also has a growing early-stage portfolio focusing on severe indications with inadequate treatment options like pediatric epilepsy. I continue to believe that Neurocrine shares should trade closer to $130, with Ingrezza accounting for roughly three-quarters of that.

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Neurocrine Biosciences Still Making Smart Moves To Build Long-Term Value