Morgan Stanley raised the firm’s price target on Neurocrine (NBIX) to $150 from $148 and keeps an Overweight rating on the shares ahead of the company reporting Q2 results on July 30. The firm projects Q2 Ingrezza sales of $630M, aligning with consensus, and estimates Crenessity sales of $20M, slightly below the $23M consensus, the analyst noted. However, the firm continues to see “under-appreciated value in 2H and beyond,” the analyst added in the firm’s preview.
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