Canaccord analyst Sumant Kulkarni raised the firm’s price target on Neurocrine (NBIX) to $200 from $164 and keeps a Buy rating on the shares. The firm updated its model following its announcement to buy Soleno Therapeutics (SLNO) for $53 per share while noting Soleno’s approved Vykat XR (diazoxide choline extended release tablets) is currently the only approved treatment for hyperphagia (excessive appetite) in Prader-Willi syndrome (PWS).
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Read More on NBIX:
- Neurocrine Biosciences: Vykat XR Acquisition Unlocks Diversified Growth and Upside Potential Despite Near-Term Pipeline Lull
- Neurocrine price target raised to $220 from $192 at Oppenheimer
- Midday Fly By: Neurocrine to acquire Soleno, Oracle hires new CFO
- Neurocrine’s Soleno Acquisition: Accretive Rare-Disease Expansion Supporting Long-Term Growth and Buy Rating
- Morning Movers: Soleno pops, Neurocrine dips after acquisition agreement