Neurocrine Biosciences' Lower Dose Data Puts Its Schizophrenia Candidate In The Game, Analyst Upgrades Stock
Portfolio Pulse from Vandana Singh
Neurocrine Biosciences' Phase 2 study of NBI-1117568 for schizophrenia shows promising results with a 20 mg dose, leading to an analyst upgrade from Piper Sandler. The stock is up 3.64% following the news.
August 29, 2024 | 5:22 pm
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Neurocrine Biosciences' NBI-1117568 shows significant results in a Phase 2 study for schizophrenia, leading to an analyst upgrade and a stock price increase.
The Phase 2 study results for NBI-1117568 showed a statistically significant improvement in schizophrenia symptoms at a 20 mg dose. This led Piper Sandler to upgrade NBIX stock from Neutral to Overweight, increasing the price target from $131 to $159. The positive data and analyst upgrade have resulted in a 3.64% increase in NBIX's stock price, indicating a positive short-term impact.
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IMPORTANCE 90
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