TD Cowen reiterates Neurocrine Bio stock rating on growth outlook

TD Cowen has reaffirmed its Buy rating and $220.00 price target on Neurocrine Biosciences Inc. (NASDAQ:NBIX), highlighting two growth drivers: Crenessity and Vykat. Key opinion leaders and data from TD Cowen’s Therapeutics Conference support the company’s long-term growth potential. Neurocrine Biosciences is considered undervalued, with InvestingPro analysis showing the stock trading below its Fair Value.

The firm’s valuation is further bolstered by a low P/E ratio of 19.88 and a PEG ratio of 0.19. Revenue for the last twelve months reached $3.37 billion, with Ingrezza and Crenessity exceeding expectations. Despite safety concerns surrounding Vykat, a number of brokerage firms have maintained positive outlooks on the stock, including RBC Capital, UBS, and H.C. Wainwright.