Neurocrine price target raised to $158 from $148 at JPMorgan

JPMorgan raised the firm’s price target on Neurocrine to $158 from $148 and keeps an Overweight rating on the shares. The analyst says the Phase 2 data for NBI-1117568 in schizophrenia is expected in the second half of 2024. The firm is defining a win scenario as a 10-13 point placebo-adjusted change on PANSS and clean safety profile. These data would be a clear enough signal to warrant continued development to establish potential differentiation, the analyst tells investors in a research note. On a win scenario, it sees upside in the high-single-digit to low-teens per share range.