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Fly News Breaks for June 9, 2015
NBIX
Jun 9, 2015 | 07:53 EDT
Cowen noted Neurocrine placed two Phase 1 studies on hold after toxicities in rats were observed. The firm said that while the news is disappointing, most of the company's value is driven by Phase lll candidates Elagolix and NBI-98554. Both should release pivotal data in the second half of 2015, thereby keeping the firm's investment thesis intact. Cowen reiterated its Outperform rating and $45 price target on Neurocrine shares.
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