Hapoalim Securities Initiates Coverage on Neurocrine Biosciences (NBIX) with a Buy; Expects Positive Results From DAISY PETAL Trial
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Hapoalim Securities initiates covreage on Neurocrine Biosciences (Nasdaq: NBIX) with a Buy. Price target $4.
Hapoalim analyst says, "With Neurocrine trading at only $20 million above its cash position, we thinkinvestors are giving little credit for the endometriosis drug, elagolix, and we think data from the DAISY PETAL trial will drive a partnership and upside for the stock...Neurocrine Biosciences is essentially the only company with a late-stage treatment for endometriosis and we think a major pharmaceutical company willpartner its drug, elagolix, if the ongoing DAISY PETAL trial is successful. Neurocrine is currently trading at only $20 million above its cash position, implying that investors have little hope for elagolix. We think this creates a great opportunity and we expect DAISY PETAL to show positive results on non-menstrual pelvic pain (NMPP) in 2Q10."
To see all the upgrades/downgrades on shares of NBIX, visit our Analyst Ratings page.
Neurocrine Biosciences, Inc. is engaged in developing, discovering and commercializing drugs for the treatment of neurological and endocrine-related diseases and disorders.
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