BMO Capital lowered the firm’s price target on Neurocrine to $100 from $111 and keeps a Market Perform rating on the shares. Failure in both FOS and anhedonia Phase 2 trials will likely reset investor expectations for the company following a positive Q3 report, the analyst tells investors in a research note. Coinciding with these announced failures, the management has indicated they are continuing to review whether there may be any impacts to ‘352’s ongoing SCN8A epilepsy trial, potentially suggesting additional discontinuations, the firm added.
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