RBC Capital analyst Brian Abrahams lowered the firm’s price target on Neurocrine to $110 from $122 and keeps a Sector Perform rating on the shares. The company continues to grow solidly, and long-duration market opportunity remains both in TD and other indications, the analyst tells investors in a research note. RBC Capital adds however that its reduced price target reflect the slightly moderated Ingrezza estimates and increased operating expense projections. The firm also sees the stock as "fairly valued" based on Neurocrine’s commercial prospects of the core franchise and the reward-risk of the pipeline.
Published first on TheFly
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