Canaccord analyst Sumant Kulkarni raised the firm’s price target on Neurocrine (NBIX) to $164 from $160 and keeps a Buy rating on the shares. The firm said he quarter was solid again, and Ingrezza (valbenazine for tardive dyskinesia/TD, Huntington’s chorea) sales came in at $687mn vs. our $650mn and FactSet consensus of $668mn. Canaccord continues to view commercial execution over the next several quarters as a very important variable for the stock to continue to work as the Street prepares for Phase 3 datasets on osavampator for MDD in 2027E, and direclidine (M4 agonist) for schizophrenia in 2027/28E.
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