Neurocrine Biosciences (NBIX): Reiterating Overweight Ahead Of ASRM - Piper Jaffray
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Piper Jaffray analyst, Charles Duncan, reiterated his Overweight rating on shares of Neurocrine Bio. (NASDAQ: NBIX) ahead of of Wednesday’s presentations at ASRM.
The analyst reviewed the efficacy and safety results on elagolix and other GnRH antagonists in development. Based on comparing the early Phase II data from potential competitors to the available Phase II & III elagolix data, the analyst sees only incremental, if any, benefits from these 2 nd-generation agents. Elagolix seems to have a clear advantage in terms of patients evaluated & efficacy/safety results to date, dosing flexibility (1-2x times daily and with or without add-back therapy), first-to-market status, and experienced commercial partner AbbVie.
No change to the price target of $96.
Shares of Neurocrine Bio. closed at $42.30 yesterday.
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