H.C. Wainwright raised the firm’s price target on Neurocrine (NBIX) to $198 from $168 and keeps a Buy rating on the shares following the research and development day. The company “redefined its growth trajectory” by unveiling NBIP-2118, an obesity candidate that leverages CRF2 biology to preserve lean muscle, “offering a distinct competitive advantage over existing incretins,” the analyst tells investors in a research note. The firm believes the Neurocrine’s “high risk-reward move” is balanced by its “de-risked” neuropsychiatry pipeline.
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