Neurocrine price target raised to $170 from $165 at Oppenheimer

Oppenheimer analyst Jay Olson raised the firm’s price target on Neurocrine to $170 from $165 and keeps an Outperform rating on the shares. The firm notes Neurocrine’s Q3 update delivered impressive progress across several new dimensions, including management commentary around lifecycle management for Ingrezza; an update on Ingrezza’s opportunity in HD chorea; color on detailed CAH study results for crinecerfont; pipeline updates including epilepsy, neuropsychiatry, and new valbenazine indications such as ATS and DCP; and the outlook for additional business development which is a core capability and competitive advantage for NBIX.