Oppenheimer analyst Jay Olson raised the firm’s price target on Neurocrine to $216 from $200 and keeps an Outperform rating on the shares. The firm notes the company delivered solid Q1 financial results featuring $506M of Ingrezza revenues roughly in line with consensus, representing 23% year-over-year growth. Oppenheimer believes Neurocrine’s neuropsych pipeline remains undervalued ahead of topline Phase 2 results from its M4 agonist for schizophrenia expected Q3 2024.
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