UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Neurocrine Biosciences After Earnings Report
In a report published Monday, Jefferies reiterated its Buy rating on Neurocrine Biosciences (NASDAQ: NBIX), and slightly raised its price target from $13.00 to $14.00.
Jefferies noted, “NBIX reported 4Q12 earnings per share and announced 2013 guidance. The next major catalyst for shares will be the data for ‘854 in movement disorders in May. We would be buyers ahead of these data and see significant upside potential as we can justify the entire valuation of NBIX on sales of elagolix for endometriosis.”
Neurocrine Biosciences closed on Friday at $10.84.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.