"With shares having come down substantially following a 3Q sales number we believe disappointed the Street, we believe today's de-risking HD data should clear the way for the stock to appreciate and better reflect Ingrezza's TD/HD growth prospects," RBC Analysts Brian Abrahams, Stephen Mallon and Leonid Timashev said in a note emailed Wednesday.
The investment firm lifted its price target on the drugmaker's stock to $122 from $119 with an outperform rating.
Neurocrine Biosciences shares were up nearly 3% in recent trading.
Price: 84.33, Change: +2.08, Percent Change: +2.53
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