Neurocrine Biosciences (NBIX): Reiterating Overweight Ahead Of Tourette’s Results - Piper Jaffray
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Piper Jaffray analyst, Charles Duncan, reiterated his Overweight rating on shares of Neurocrine Bio. (NASDAQ: NBIX) ahead of regulatory progress in Tardive Dyskinesia and Tourette’s results around YE16.
A meeting with management provided updated perspectives for its lead valbenazine (Ingrezzo) program. On Tardive Dyskinesia, while the regulatory review won’t be without its points of debate, the analyst is optimistic a priority review is possible and that the most important questions at this point are those of timing and label content, such as a class-wide safety warning as well as breadth of the approval population.
The analyst believes that regulators and patients recognize the high burden of this disorder and appreciate the value proposition from a fixed dose, highly tolerable agent. This perspective is supported by web analytics work in addition to interest in the long term KINECT studies (3,4, and 5).
No change to the price target of $96.
Shares of Neurocrine Bio. closed at $54.22 yesterday.
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