Neurocrine black box warning for Huntington’s a surprise, says Mizuho

Mizuho analyst Uy Ear raised the firm’s price target on Neurocrine Bioscience to $113 from $112 and keeps a Neutral rating on the shares. The Ingrezza Huntington’s disease approval was largely expected, but the VMAT2 class black box warning about depression and suicidal ideation and behavior for the indication is surprising and was likely unexpected for the company, the analyst tells investors in a research note. The firm believes management’s internal Huntington’s sales expectation could be lower because of the black box warning.