Neurocrine price target raised to $111 from $100 at BMO Capital

BMO Capital raised the firm’s price target on Neurocrine to $111 from $100 and keeps a Market Perform rating on the shares. Following the phase 3 CAH data for crinecerfont in adults, the firm is more confident in the probability of success for crinecerfont in CAH, raising the probability of success assumption to 85% ahead of pediatric data and filing in 2024, the analyst tells investors in a research note. The market opportunity in CAH is limited, but this readout marks a meaningful step, the firm added.