Neurocrine Biosciences (NBIX) Submitted The Valbenazine NDA Earlier Than Expected - Baird

August 30, 2016 6:35 AM EDT
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Price: $40.12 +3.30%

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Baird analyst, Brian Skorney, reiterated his Outperform rating on shares of Neurocrine Bio. (NASDAQ: NBIX) after the submission for the valbenazine NDA in tardive dyskinesia came a little earlier than expected. The "Breakthrough Therapy" designation could make an approval come as early as April 2017. AbbVie is on track to file elagolix next year, and with upcoming data in Tourette, NBIX is set for some strong catalysts over the next 12-18 months.

The timing of the NDA filing indicates that a decision on the review will be in by October, with a PDUFA expected around April, assuming an accelerated review. At that rate, the drug could be on the market in the U.S. mid next year.

No change tot the price target of $66.

For an analyst ratings suNeurocrine Biosciences (NASDAQ: NBIX)
of Neurocrine Bio. closed at $49.31 yesterday.

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