After Indivior (INDV) reduced FY24 guidance due to the removal of automatic Medicaid coverage renewals for Sublocade, Jefferies caught up with both Neurocrine (NBIX) and Alkermes’ (ALKS) management teams and notes that neither is seeing a Sublocade-like impact regarding Medicaid claims going into Q2. The firm maintains a Buy rating and $175 price target on Neurocrine shares and a Buy rating and $50 price target on Alkermes.
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