Needham & Company Starts Neurocrine Bio. (NBIX) at Buy
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Needham & Company initiates coverage on Neurocrine Bio. (NASDAQ: NBIX) with a Buy rating and a price target of $62.00.
Analyst Alan Carr commented, "We are initiating coverage of Neurocrine with a BUY rating. Neurocrine announced positive results from a Phase 3 trial of Ingrezza in Tardive Dyskinesia (TD) in 2015. We expect approval by 4/11/17 PDUFA date, followed by launch with a specialty sales force. We have a bias toward positive Phase 2 outcome in Tourette Syndrome (TS) based on prior clinical data, and we assume label expansion 2020. We estimate US peak sales $1.6B. Collaborator Abbvie announced postive Phase 3 results in Endometriosis and guided for NDA submission 2H17. Phase 3 trials in Uterine Fibroids are underway and we are optimistic based on encouraging Phase 2 data. We estimate WW peak sales $3B. Our $62 PT is 25x $4.46 2021E EPS, discounted 15% annually. We believe there is near-term room for upside around Ingrezza Phase 2 TS data and 2Q17 TD approval."
Shares of Neurocrine Bio. closed at $42.30 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oclaro (OCLR): Preannouncement Positive And Margin Leverage Means More To Come - Needham
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
- Union Pacific (UNP) PT Raised to $120 at Aegis Capital Following Solid 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesNeedham & Company, PDUFA, Alan Carr
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!