Neurocrine price target lowered to $131 from $133 at Citi

Citi analyst Neena Bitritto-Garg lowered the firm’s price target on Neurocrine to $131 from $133 and keeps a Buy rating on the shares post the Q4 results. Though Ingrezza sales met sell-side estimates and the fiscal 2023 guidance is higher than most were expecting, the shares are weak on implications of the guidance on volume growth trends and an expected offset by higher spending in 2023, including increased spend on the early-stage pipeline, the analyst tells investors in a research note.