Confidence Boost From Ingrezza Sales: Analyst Upgrades Neurocrine Biosciences
Portfolio Pulse from Vandana Singh
BMO Capital Markets has upgraded Neurocrine Biosciences Inc (NBIX) from Underperform to Market Perform, with a price target of $96, up from $91. The upgrade follows a survey of psychiatrists treating tardive dyskinesia, which increased BMO's confidence in the durability of Neurocrine's drug, Ingrezza. BMO also noted that Neurocrine's pipeline lacks strength and depth. Neurocrine and Voyager Therapeutics Inc (VYGR) formed a collaboration earlier this year to advance gene therapies for neurological diseases.
July 06, 2023 | 7:12 pm
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Neurocrine Biosciences has been upgraded by BMO Capital Markets following increased confidence in its drug, Ingrezza. However, concerns remain about the strength and depth of the company's pipeline.
The upgrade by BMO Capital Markets is likely to have a positive impact on Neurocrine Biosciences' stock in the short term. However, concerns about the strength and depth of the company's pipeline could limit long-term growth potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Voyager Therapeutics has formed a strategic collaboration with Neurocrine Biosciences to advance gene therapies for neurological diseases.
The strategic collaboration with Neurocrine Biosciences could potentially open up new opportunities for Voyager Therapeutics, which could have a positive impact on its stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50