Neurocrine (NASDAQ:NBIX) has committed to providing a free goods program to help endocrinologists become acquainted with Crenessity's clinical profile. The company also noted that open label studies for Crenessity will continue into 2025, indicating that there won't be an immediate surge in patients converting to the commercial drug. BofA Securities projects fiscal year 2025 sales of $39.4 million for Crenessity, with peak risk-adjusted global sales reaching $1.2 billion by 2034.
The firm reiterated its Buy rating with the new price objective of $182. InvestingPro's Fair Value analysis suggests the stock is currently undervalued, aligning with the positive analyst outlook. For deeper insights into Neurocrine's valuation and growth prospects, including 10+ additional ProTips, subscribers can access the comprehensive Pro Research Report.
InvestingPro's Fair Value analysis suggests the stock is currently undervalued, aligning with the positive analyst outlook. For deeper insights into Neurocrine's valuation and growth prospects, including 10+ additional ProTips, subscribers can access the comprehensive Pro Research Report.
Neurocrine has set the US list price for Crenessity at approximately $38,333 for a 30-day supply for adults, translating to an annual cost of around $460,000. For pediatric patients weighing less than 20 kilograms, the 30-day supply is priced at about $19,167, amounting to an annual list price of nearly $230,000. Despite these figures, the company anticipates that 90% of CAH patients will have a monthly copay of $12 or less.
Neurocrine has committed to providing a free goods program to help endocrinologists become acquainted with Crenessity's clinical profile. The company also noted that open label studies for Crenessity will continue into 2025, indicating that there won't be an immediate surge in patients converting to the commercial drug. BofA Securities projects fiscal year 2025 sales of $39.4 million for Crenessity, with peak risk-adjusted global sales reaching $1.2 billion by 2034.
The firm reiterated its Buy rating with the new price objective of $182. InvestingPro's Fair Value analysis suggests the stock is currently undervalued, aligning with the positive analyst outlook. For deeper insights into Neurocrine's valuation and growth prospects, including 10+ additional ProTips, subscribers can access the comprehensive Pro Research Report.
Neurocrine has committed to providing a free goods program to help endocrinologists become acquainted with Crenessity's clinical profile. The company also noted that open label studies for Crenessity will continue into 2025, indicating that there won't be an immediate surge in patients converting to the commercial drug. BofA Securities projects fiscal year 2025 sales of $39.4 million for Crenessity, with peak risk-adjusted global sales reaching $1.2 billion by 2034. The firm reiterated its Buy rating with the new price objective of $182.
In other recent news, Neurocrine Biosciences has launched CRENESSITY, a new treatment for congenital adrenal hyperplasia (CAH), in the United States. The FDA-approved oral medication is intended to be used alongside glucocorticoids to better control androgen levels in adults and children aged four and above. Despite the FDA approval, analysts, including Evan David Seigerman of BMO Capital, anticipate a gradual commercial launch due to various challenges. However, several firms, including Goldman Sachs and H.C. Wainwright, have maintained their Buy ratings on Neurocrine Biosciences.
Goldman Sachs has also adjusted its price target for the company's shares, increasing it to $182 from $177, while BMO Capital maintained its Market Perform rating with a steady price target of $121. Piper Sandler confirmed its Overweight rating on Neurocrine Biosciences with a price target of $160. These recent developments highlight Neurocrine Biosciences' ongoing commitment to developing effective treatments for neurological and endocrine-related diseases and disorders.
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