Neurocrine price target raised to $128 from $123 at RBC Capital

RBC Capital raised the firm’s price target on Neurocrine to $128 from $123 and keeps a Sector Perform rating on the shares. The company reported a strong beat-and-raise quarter, showing the health of its core business, though it also expects the spending to continue to increase to support this expansion and future commercial and clinical diversification, the analyst tells investors in a research note. With a likely balanced setup into upcoming pipeline readouts and Inflation Reduction Act overhangs to long-term Ingrezza remaining however, there is less visibility for a meaningful near-term stock inflection, the firm added.