Neurocrine Biosciences' (NBIX) Ingrezza should at least meet the company's fiscal 2025 sales guidance due to an expected re-acceleration in new patient starts and as payer-related headwinds are unlikely to have an impact in Q2 and Q3, RBC Capital Markets said in a Monday note.
Ingrezza is a treatment for adults with tardive dyskinesia and for involuntary movements of Huntington's disease.
The company said last month it expects Ingrezza fiscal 2025 sales of $2.5 billion to $2.6 billion.
RBC said its formulary and prescription checks indicate "some favorable updates and stable coverage into Q2/Q3."
According to the investment firm, its checks reaffirmed a "solid" outlook for Ingrezza for the rest of 2025 with stabilizing coverage access.
In addition, market uptake for the company's Crenessity drug serves as a potential catalyst that could sustain stock momentum, RBC said.
RBC has an outperform rating on Neurocrine Biosciences, with a $145 price target.
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