Neurocrine Bio. (NBIX) PT Raised to $138 at Stifel; Nice Ingrezza Beat and Better TRx Commentary
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Stifel analyst Paul Matteis raised the price target on Neurocrine Bio. (NASDAQ: NBIX) to $138.00 (from $136.00) while maintaining a Buy rating following results.
The analyst commented, "We are reiterating our Buy rating on NBIX on the back of a solid 2Q for Ingrezza: sales were $265MM, vs consensus of $257MM. We had however viewed consensus as conservative, so what was more impressive to us was NBIX commentary that NRx reached their best levels since last March, while refill rates reached pre-pandemic levels. We are updating our model for the quarter, our Target Price goes to $138 from $136."
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