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Fly News Breaks for September 21, 2017
TEVA, NBIX
Sep 21, 2017 | 09:34 EDT
Baird analyst Brian Skorney says his firm's survey of 30 physicians is incrementally positive for Neurocrine Biosciences' (NBIX) Ingrezza. Tardive dyskinesia may be a much more active indication than originally expected, Skorney tells investors in a research note titled "Ingrezza Already a Big Hit Among Physicians." The analyst believes Ingrezza could be used three-times as often as Teva's (TEVA) Austedo. He sees reimbursement as a "minor hurdle" and thinks Ingrezza sales in Q3 could "blow expectations out of the water." Skorney raised his Q3 sales estimate for the drug to $12M from $8M, above the consensus of $10M. The analyst, while admitting he continues to expect the Ingrezza launch "to be rather slow and steady," keeps an Outperform rating on Neurocrine with a $66 price target. The stock in early trading is up $1.43 to $58.23.