Neurocrine Biosciences (NBIX) stock is surging 16.71% in Tuesday's trading session, following the company's release of better-than-expected first-quarter 2025 financial results and a wave of analyst upgrades. The biopharmaceutical firm, which focuses on neurological and endocrine disorders, reported earnings that surpassed analyst estimates and demonstrated robust sales growth for its lead product, INGREZZA.

Neurocrine reported adjusted earnings per share of $0.70 for Q1, significantly beating the analyst consensus estimate of $0.54. The company's quarterly revenue reached $572.6 million, an 11.12% increase year-over-year and exceeding the Street's forecast of $559.33 million. INGREZZA, Neurocrine's treatment for tardive dyskinesia and chorea associated with Huntington's disease, saw net product sales of $545.2 million, showing an 8% growth compared to the first quarter of 2024. The company also reaffirmed its full-year 2025 INGREZZA sales guidance of $2.50 billion to $2.60 billion, instilling confidence in investors about its continued growth trajectory.

Following the strong earnings report, several analysts have raised their price targets for Neurocrine Biosciences. RBC increased its target price to $145 from $137, while Guggenheim raised its target to $165 from $155. BofA Global Research adjusted its price objective upward to $183 from $179, and Wedbush raised its target price to $130 from $115. These upgrades reflect growing confidence in the company's growth trajectory and the continued success of its product pipeline, particularly INGREZZA. The positive sentiment from analysts has further fueled the stock's impressive rally.