RBC Capital upgraded Neurocrine (NBIX) to Outperform from Sector Perform with a price target of $137, down from $138. Weakness in the shares that comes alongside broader sector and market downside has brought the stock to levels “well below fundamental fair value,” argues the analyst, citing an Ingrezza commercial franchise that the firm expects to be “relatively solid and durable long term” as well as low relative exposure to FDA or tariff concerns that could remain an overhang on others in the group. The firm acknowledges potential for volatility around Q1 and some potential long-term for IRA-related pressure, it sees “a good entry point for a stable, safe mid-cap biotech,” the analyst added.
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