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Fly News Breaks for July 30, 2018
NBIX
Jul 30, 2018 | 07:29 EDT
Jefferies analyst Biren Amin raised his price target for Neurocrine Biosciences to $124 after updating his market models for Orilissa and Ingrezza. The analyst arrives at Orilissa peak sales of $3B-plus given the launch price and expected uptake. He believes FDA approval in endometriosis provides "significant royalties" for Neurocrine. However, his latest quarterly survey suggests a flattening of Ingrezza market share in tardive dyskinesia. He now estimates Q2 Ingrezza sales of $83M, below the consensus of $84.3M. Amin keeps a Buy rating on Neurocrine.