Back to top

Image: Bigstock

Neurocrine's Stock Up, FDA Nod for Tardive Dyskinesia Drug

Read MoreHide Full Article

Shares of Neurocrine Biosciences, Inc. (NBIX - Free Report) soared 25% on Tuesday after announcing the FDA approval ofIngrezza (valbenazine) capsules a day before for the treatment of adults with tardive dyskinesia (TD). Ingrezza is the first and the only drug approved by the FDA for the treatment of adults with TD.

Neurocrine’s shares outperformed the Zacks classified Medical Drugs industry year to date. The stock rallied 34% compared with the industry’s gain of 0.5%.

 

The company said that Ingrezza, a-selective VMAT2 inhibitor, has been studied in more than 1,000 individuals and more than 20 studies. The studies showed that INGREZZA significantly improved TD symptoms compared to placebo, through six weeks. It also helped in reducing involuntary movements observed through 48 weeks of treatment. These results, combined with convenient once-daily dosing, represent a huge opportunity for patients suffering from TD.

Now with limited options available for the treatment of TD, the approval of Ingrezza is a good news for Neurocrine.  Neurocrine has created the INBRACE patient support program, which will immediately start accepting treatment initiation forms from health care professionals prescribing INGREZZA. The INBRACE program will work closely with patients and provide them with customized services.

Moving ahead, Ingrezza will be available through a select pharmacy network and promotion to healthcare professionals will begin on May 1, 2017.

Manwhile, Ingrezza’s approval could pose a threat to pharmaceutical giant, Teva Pharmaceutical Industries Limited’s (TEVA - Free Report) drug Austedo (deutetrabenazine) which is in line to get approval for the treatment of TD. Teva’s new drug application (NDA) for deutetrabenazine was granted priority review by the FDA in Feb 2017. Furthermore, the FDA has assigned a Prescription Drug User Fee Act (PDUFA) goal date of August 30, 2017.

Neurocrine does not have a Zacks Rank. Some stocks in the health care sector include Heska Corp. and Galena Biopharma, Inc. sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Heska’s earnings estimates moved up from $1.53 to $1.65 for 2017 and from $1.90 to $2.01 for 2018, over the last 60 days. The company posted a positive earnings surprise in all of the last four quarters, with an average beat of 291.54%. Its share price increased 41.5% year to date.

Galena Biopharma‘s loss estimates narrowed from $2.27 to 58 cents for 2017 and from 92 cents to 73 cents for 2018, over the last 60 days. The company posted a positive earnings surprise in two of the four trailing quarters with an average beat of 53.83%.  

The Best & Worst of Zacks

Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Teva Pharmaceutical Industries Ltd. (TEVA) - free report >>

Neurocrine Biosciences, Inc. (NBIX) - free report >>

Published in