Although Neurocrine Biosciences (NBIX) has a strong primary commercial asset in Ingrezza, a slower-building but still promising secondary asset partnered to AbbVie (ABBV)
in Orlissa, and an improved pipeline, the reality is that the shares of
biotechs in Neurocrine’s stage of life can flounder or drift for
stretches of time. In the absence of new clinical data to get excited
about, investors will instead fixate on short-term details or just get
bored and move on, and I think that explains at least some of
Neurocrine’s lackluster recent performance.
All in
all, though, I still like this stock. I believe Ingrezza still has
upside, and while Orlissa is taking longer to build than most investors
would like, it’s still a good opportunity. Beyond that, opicapone may
still be an underrated opportunity, and likewise with NBI-74788, and
Neurocrine has some early-stage assets worth watching now, including its
second VMAT-2 compound and its Voyager (VYGR) partnership.
Read more here:
Neurocrine Drifting, But The Total Package Is Still Appealing
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