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Highlights:
Neuren Pharmaceuticals has received BUY ratings from two analysts, with target prices offering up to 106% upside.
FY24 comprehensive income reached A$166 million, supported by strong royalties and milestone payments from DAYBUE™ sales.
U.S. partner Acadia forecasts DAYBUE™ net sales of up to US$405 million in 2025, signalling continued earnings momentum.
Neuren Pharmaceuticals Ltd (ASX:NEU), a biotechnology company focused on therapies for childhood neurodevelopmental disorders, has garnered significant support from market analysts following a record-setting financial performance in FY24 and promising guidance for 2025.
Two analysts — Shane Storey of Wilsons and Thomas Wakim from Bell Potter Securities — have issued BUY-equivalent ratings (OVERWEIGHT and BUY, respectively) for Neuren. Their target prices of AUD 26.50 and AUD 20.00 represent substantial upside potential of 106.23% and 55.64% from the current trading price of AUD 13.02, as of 17 June 2025.
FY24 Delivers Record Income
Neuren reported a total comprehensive income (CI) of AUD 166 million in FY24, reflecting a 73% CI margin. This marks a significant rise from AUD 157.1 million in FY23, driven primarily by performance under its licence agreement with U.S.-based Acadia Pharmaceuticals. Net profit after tax (NPAT) came in at AUD142 million, while the company also recorded a foreign exchange gain of AUD 24 million.
Total income for the year stood at AUD 227.8 million, of which AUD 213.2 million was earned through the Acadia licence agreement. This includes:
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AUD 56.2 million in quarterly royalties (up from AUD 26.8 million in 2023)
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AUD 80.5 million in milestone revenue linked to DAYBUE™ net sales exceeding USD 250 million
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AUD 76.5 million as Neuren’s one-third share of proceeds from Acadia’s sale of a Rare Disease Priority Review Voucher
Administrative and corporate costs were managed efficiently at just AUD 5 million, while the company invested AUD 33 million in R&D, particularly in NNZ-2591, its clinical-stage asset.
DAYBUE™ Sales Drive Future Prospects
Revenue from DAYBUE™ accounted for the bulk of Neuren’s earnings in 2023 and 2024. The company received a milestone payment in 2024 after surpassing the first sales threshold of over USD 250 million.
For CY25, Acadia has guided net U.S. sales for DAYBUE™ in the range of USD 380 million to USD 405 million. Under the licence agreement, Neuren receives:
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10% of DAYBUE™ net sales up to USD 250 million
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12% of net sales between USD 250 million and USD 500 million
At an exchange rate of AUD/USD 0.65, these royalties are expected to translate into meaningful revenue for Neuren in the coming year. Despite seasonal softness in Q1 2025 sales compared to Q4 2024, Acadia’s projection signals continued commercial traction for DAYBUE™, reinforcing Neuren’s revenue visibility.






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