Piper Jaffray analyst Charles Duncan raised his price target for Neurocrine Biosciences to $113 after the company and partner AbbVie announced results from the second Phase III trial of elagolix plus add-back therapy in uterine fibroids. The analyst sees the dataset as supporting a clinically meaningful benefit from elagolix, and believes the likelihood of response from the oral therapy with the potential for chronic use will become a "compelling, and more-than-competitive option" within the evolving standard of care for uterine fibroids. Duncan reiterates an Overweight rating on Neurocrine.