Neurocrine could rally $15 on positive Tourette’s data, says Jefferies

Jefferies analyst Biren Amin believes shares of Neurocrine Biosciences could rally $10-$15 on the year-end readout for the Phase IIb T-Force Gold study in pediatric Tourette’s syndrome. The analyst’s work indicates that a Yale Global Tic Severity Scale score reduction of 25%-30%, or seven-to-ten patients, over placebo would likely be considered clinically meaningful by doctors. Positive data within or above this range could see shares trade up by up to $15, while a near miss could send the stock down by $8-$10, Amin tells investors in a research note. He keeps a Buy rating on Neurocrine with a $131 price target.

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