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Leerink Partners More Bullish on Neurocrine Bio. (NBIX) Following Deep-Dive on '854 in Tourette's Syndrome

January 22, 2016 7:58 AM EST
Get Alerts NBIX Hot Sheet
Price: $137.92 +0.07%

Rating Summary:
    24 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Leerink Partners analyst Paul Matteis reiterated an Outperform rating and raised his price target on Neurocrine Bio. (NASDAQ: NBIX) to $76.00 (from $71.00) after performing a deep dive on '854 in Tourette's Syndrome (TS). They firm came away more bullish on NBIX as one of their top picks.

Matteis commented: "On the heels of positive ph3 data in Tardive Dyskinesia (TD), NBI-98854 is currently being examined in two ph2 studies in TS, at least one of which (the adult trial) we expect will have clinical data in 4Q16. Today, and even before the recent market pullback, we believe little is priced into the stock for TS which based on specialist feedback we believe could represent a ~$600MM gross opportunity at peak. Within we outline a breadth of clinical and mechanistic evidence that supports (1) our bullish view on TS - with an estimated 70% probability-of-success and (2) our new NBIX PT of $76/share, up from $71."

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 $49.30 yesterday.



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