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Neurocrine Bio. (NBIX) Catalyst on the Calendar for Next Monday - Mizuho Securities

June 4, 2020 6:50 AM EDT
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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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Mizuho Securities analyst Vamil Divan reiterated a Neutral rating and $105.00 price target on Neurocrine Bio. (NASDAQ: NBIX) ahead of full presentation of Phase 2 data for crinecerfont in adults with congenital adrenal hyperplasia, expected on Monday at 11am ET at the virtual ENDO 2020 Meeting.

The analyst stated "Encouraging data could increase estimates for the product ahead of its Phase 3 start later this year and potentially provide another leg of upside for the stock". "Neurocrine's
stock has outperformed over the past few weeks, especially after the company reported 1Q20 earnings on May 6 (+19.2% since then vs. S&P up 9.4%). We believe investors were concerned going into the results on how Ingrezza sales would hold up given the usual seasonal weakness we see in 1Q with Ingrezza as well as the unusual nature of this year's 1Q with the COVID-19 pandemic.
The solid 1Q20 performance cleared the way for the recent rally in the stock, and the company has also successfully obtained FDA approval for Ongentys and Oriahnn (partnered with AbbVie) in recent weeks".

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 $119.03 yesterday.



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