Why Neurocrine Biosciences Stock Sank Today

Core Viewpoint - Neurocrine Biosciences reported better-than-expected profitability in Q4, but analysts have lowered their price targets, resulting in a decline in share price [1][2]. Price Target Reductions - Three analysts, H.C. Wainwright, Guggenheim, and UBS, reduced their price targets for Neurocrine, leading to a more than 3% loss in share price [2]. - UBS analyst Ashwani Verma made the most significant cut, lowering the target from $176 to$154 per share [2]. - Guggenheim's Yatin Suneja and Wainwright's Andrew Fein made smaller reductions, adjusting their targets to $163 and$185, respectively [4]. Sales Guidance and Projections - The guidance for Neurocrine's leading drug, Ingrezza, is projected at $2.5 billion to$2.6 billion for the current year, which shows minimal growth compared to the 2024 estimate of $2.3 billion [3]. - Analysts cited projected Ingrezza sales for 2025 in their updates, indicating a focus on future performance [4]. Analyst Sentiment - Despite the price target reductions, all three analysts maintained their buy recommendations on Neurocrine's stock, suggesting continued confidence in the company's potential [5]. - Neurocrine is recognized for its ability to successfully bring medications to market, even with a more limited portfolio compared to competitors [5].