Baird Incrementally Positive on Neurocrine Bio. (NBIX) Following Expansion of Pipeline

Baird analyst Brian Skorney said he is incrementally positive on Neurocrine Bio. (NASDAQ: NBIX) following the expansion of the pipeline. The analyst reiterated an Outperform rating and price target of $66.

Skorney commented, "Neurocrine management had previously discussed initiating moving a program into the clinic targeting an undisclosed movement disorder some time toward the end of the year. Today, the company released that they will commence a Phase 1 study for NBI-640756. Though we are not surprised by the announcement of expansion of the pipeline, we see this as a step in the right direction toward building a robust movement disorder franchise."

For an analyst ratings summary and ratings history on Neurocrine Bio. click here. For more ratings news on Neurocrine Bio. click here.

Shares of Neurocrine Bio. closed at $53.17 yesterday.

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