Piper Jaffray Sees Valuation Inflection Point for Neurocrine Bio (NBIX)

Piper Jaffray analyst Charles C. Duncan, PhD reiterated an Overweight rating and $26 price target on Neurocrine Bio. (NASDAQ: NBIX) following meetings with management which has given them further clarity and conviction on the potential for multiple clinical data releases during the next 12 months to drive a valuation inflection point.

Duncan comments, "Investors expressed a similar level of interest between the VMAT2 candidate, '854, and endometriosis candidate, Elagolix (partnered with AbbVie). That said, for ‘854 the company recently met with the FDA for guidance on its Phase III design (KINECT3) in tardive dyskinesia
(TD), and the outcome was positive for Neurocrine, we believe: Only a single study needed, same endpoints as KINECT2 but measured at 6 weeks (not 12), central reading, triple blinding, and only 900-1000 total patient database vs. 1,500 by typical guidelines."

For an analyst ratings summary and ratings history on Neurocrine Bio. click here. For more ratings news on Neurocrine Bio. click here.

Shares of Neurocrine Bio. closed at $15.46 yesterday.

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