Neurocrine Biosciences (NBIX): Buy Ahead Of valbenazine Tourette’s Data - BMO
- Banks, telecoms lead Wall Street up; another Dow record
- Western Digital (WDC) Raises Q2 Outlook
- bluebird bio (BLUE) to Offer $200M of Common Stock
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
- After-Hours Stock Movers 12/06: (PLAY) (ANTH) (WDC) Higher; (AVAV) (ESV) (BLUE) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
BMO Capital analyst, Ian Somaiya, reiterated his Outperform rating on Neurocrine Bio. (NASDAQ: NBIX) seeing the recent price weakness as a buying opportunity. NBIX has come under pressure following Myovant's S-1 filing as investors viewed relugolix as a more convenient competitor to Neurocrine’s elagolix.
The analyst sees two key risks with relugolix: its longer half-life could complicate add-back therapy and endometriosis endpoint wording could delay P3s. Additionally, relugolix endometriosis data suggests a profile similar to lower dose of elagolix and regulatory timelines that provide elagolix a 2-3yr lead-time with peak market share assumptions leaving plenty of room for both players.
The analyst thinks the weakness is a buying opportunity and recommends buying NBIX ahead of P2 valbenazine Tourette’s data in 4Q16.
No change to the price target of $66.
Shares of Neurocrine Bio. closed at $43.07 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Neurocrine Biosciences (NBIX): INGREZZA LT Efficacy & Safety Bode Well for Approval - Piper Jaffray
- UPDATE: Stifel Downgrades PennTex Midstream Partners, LP (PTXP) to Hold
- Oppenheimer Raises Price Target on Bob Evans Farms (BOBE) Following 2Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesBMO Capital, S1
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!