Neurocrine price target raised to $110 from $108 at RBC Capital

RBC Capital analyst Brian Abrahams raised the firm’s price target on Neurocrine to $110 from $108 but keeps a Sector Perform rating on the shares. The top-line phase 3 data for crinecerfont expected the second half of the year is more likely than not to be positive, but the launch trajectory and ultimate opportunity in CAH, or congenital adrenal hyperplasia, remain less certain, the analyst tells investors in a research note. RBC believes that Neurocrine shares are fairly balancing Ingrezza’s continued solid revenues, crinecerfont’s likely gradual long-term contribution, and the stock’s reward/risk heading into pipeline readouts in the second half of theyear.