Wells Fargo analyst Mohit Bansal lowered the firm’s price target on Neurocrine to $115 from $120 and keeps an Equal Weight rating on the shares. The firm notes 2023 seems to be a transition year as Neurocrine looks to diversify beyond Ingrezza. OpEx investment to do so may offset impact of Ingrezza growth to EPS. In this backdrop, crinecerfont data and POC readouts will be key catalysts for the stock in the second half of 2023, Wells says.
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