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ubs lowers neurocrine biosciences stock target while maintaining buy rating
UBS has lowered its price target for Neurocrine Biosciences to $137 from $154 while maintaining a Buy rating, citing a reevaluation of biotech stocks amid market trends. The company, known for its neurological treatments, has seen a 24.6% decline year-to-date but is viewed as undervalued, with strong revenue growth and solid financial health. Recent developments include the appointment of Dr. Sanjay Keswani as Chief Medical Officer and promising results from a study on Ingrezza, which showed significant remission rates for tardive dyskinesia symptoms.
ubs lowers neurocrine biosciences price target but maintains buy rating
UBS has lowered its price target for Neurocrine Biosciences to $137 while maintaining a Buy rating, citing a favorable risk/reward ratio and the absence of regulatory risks. The company’s lead product, Ingrezza, shows strong sales growth, although challenges in payer coverage may impact demand. Recent clinical trial results indicate promising long-term remission rates for tardive dyskinesia, while leadership changes and cautious revenue estimates reflect the evolving landscape for Neurocrine.
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