Wells Fargo raised the firm’s price target on Neurocrine to $140 from $127 and keeps an Equal Weight rating on the shares. The stock seems to reflect a decent amount of appreciation for M4, where Neurocrine faces a high bar coming behind big pharma, the firm says. Wells also notes that OpEx, though high, shows improving SG&A leverage for Ingrezza. Crinecerfont remains a 2025+ story as 2024 focus is on launch prep, it adds.
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Read More on NBIX:
- Neurocrine Biosciences Reports Fourth Quarter and Fiscal 2023 Financial Results and Provides Financial Expectations for 2024
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- Neurocrine price target raised to $150 from $145 at Barclays
- Neurocrine director Lyons, Chief Medical Officer Roberts sell $1.3M in stock
- Neurocrine price target raised to $145 from $125 at Barclays
