Ingrezza Miss Takes Neurocrine Biosciences (NBIX) PT Down To $110 At Jefferies

Jefferies analyst, Biren Amin, reiterated his Buy rating on shares of Neurocrine Bio. (NASDAQ: NBIX) but cut the company's price target to $110 from $131 after topline results for Ingrezza in Tourette's syndrome (TS), missed on the primary endpoint of YGTSS vs placebo.

The analyst stated "The miss was unexpected since optimization efforts had been taken on dosing and length of tx after last negative readout from T-Force GREEN. We have removed TS entirely from our model, which aligns with mgmt's view. However, our valuation implies substantial upside from TD and expect the sales expansion to have a positive contribution".

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 $73.83 yesterday.

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