Market Overview

UPDATE: Morgan Stanley Downgrades Neurocrine Biosciences on Recent Stock Appreciation

Share:
Related NBIX
Benzinga's Top Initiations
Neurocrine Reports Added NBI-98854 Data Will Be Presented at APA Meeting
Neurocrine Bio files NDA for valbenazine for the treatment of tardive dyskinesia (Seeking Alpha)

In a report published Wednesday, Morgan Stanley analyst David Friedman downgraded Neurocrine Biosciences (NASDAQ: NBIX) to EqualWeight from OverWeight, raising its price target to $16.00.

According to the report, the price target increase is based on a set of model changes including adding VMAT sales. The downgrade is due to the recent stock appreciation.

“While we expect clinical and commercial success for Elagolix in both endometriosis and uterine fibroids, we are changing our rating from OW to EW based on a seemingly more balanced risk-reward with the stock at current levels,” the report noted. “We have made a series of model changes, including adding '854 (VMAT) sales to our model in light of the recent, albeit somewhat modest benefit shown in the KINECT 2.”

NBIX closed Tuesday at $18.51 with shares trading up 89.69 percent.

Latest Ratings for NBIX

DateFirmActionFromTo
Jun 2016H.C. WainwrightInitiates Coverage onBuy
Apr 2016BMO CapitalInitiates Coverage onOutperform
Feb 2016JP MorganMaintainsOverweight

View More Analyst Ratings for NBIX
View the Latest Analyst Ratings

Posted-In: David Friedman Morgan StanleyAnalyst Color Downgrades Analyst Ratings

 

Related Articles (NBIX)

View Comments and Join the Discussion!