FDA Greenlights Expanded Use Of Neurocrine Biosciences' Ingrezza: Analysts Weigh In Depression Warning
Portfolio Pulse from Vandana Singh
The FDA has approved Neurocrine Biosciences' Ingrezza for the treatment of adults with chorea associated with Huntington's disease. The approval is supported by data from two clinical studies. Analysts from William Blair anticipate a gradual introduction of Ingrezza to the patient group, with 2024 marked as a major growth year. HC Wainwright raised the price target for Neurocrine Biosciences from $140 to $146.
August 21, 2023 | 6:24 pm
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POSITIVE IMPACT
The FDA approval of Ingrezza and the raised price target by HC Wainwright could positively impact Neurocrine Biosciences' stock.
The FDA approval of a new drug typically leads to increased investor confidence and a potential rise in the company's stock price. The raised price target by HC Wainwright further supports this potential.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The approval of Ingrezza could potentially impact Teva Pharmaceutical Industries as it could lead to quicker adoption of Ingrezza among the HD chorea patient group, more so than Teva's Austedo XR.
The approval of Ingrezza could lead to a shift in the market share of treatments for HD chorea, potentially negatively impacting the adoption of Teva's Austedo XR.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60