Neurocrine NBI-1065845 results ‘look potentially promising,’ says RBC Capital

After Neurocrine announced its Phase 2 SAVITRI dose-finding study of the efficacy and safety of NBI-1065845 in adult subjects with major depressive disorder, or MDD, met its primary and key secondary endpoints, RBC Capital said the results show “what appear to be clear signals of antidepressive activity” and “look potentially promising.” The firm, which believes Street expectations were “very low for this asset,” adds that there are “several missing pieces that preclude drawing definitive conclusions about ‘845’s potential.” RBC has a Sector Perform rating and $136 price target on Neurocrine Biosciences shares, which are up $7.22, or 5%, to $140.88 in morning trading.