Oppenheimer analyst Jay Olson raised the firm’s price target on Neurocrine to $200 from $170 and keeps an Outperform rating on the shares. The firm is “increasingly optimistic” for the company’s M4 agonist, NBI-‘568, ahead of Phase 2 topline results expected in the second half of 2024. Oppenheimer’s scenario analysis forecasts +30% upside upon ‘568 showing a competitive profile with 60% POS vs. -15% downside with 40% probability.
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