Neurocrine Biosciences' (NBIX) Ingrezza sales momentum could support a 2026 guidance increase, while Vykat growth is expected to slow and major pipeline data are not expected before the second half of 2027, UBS Securities said.

The investment firm raised its 2026 Ingrezza sales estimate to $2.80 billion from $2.75 billion, slightly above the $2.78 billion consensus forecast. UBS said changes in insurance coverage for Teva's (TEVA) Austedo could favor Ingrezza, while Neurocrine's roughly 30% expansion of its sales force should provide additional support.

UBS expects Vykat sales growth to slow after strong early demand, forecasting 2026 sales of $235 million, below the $294 million consensus estimate. The brokerage projects peak sales of $616 million, well below the $1.36 billion consensus forecast, reflecting slower patient additions and a higher expected treatment discontinuation rate.

The firm said major data from three phase 3 trials of osavampator in major depressive disorder and the first phase 3 trial of direclidine in schizophrenia are not expected until the second half of 2027, leaving few significant clinical catalysts before then.

UBS maintained its buy rating on Neurocrine and raised its price target to $208 from $182.

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