Jefferies analyst Biren Amin tells investors to buy shares of Neurocrine Biosciences (NBIX) after hosting a dinner with management.
Management shared thoughts on the Ingrezza launch and dispelled recent safety concerns, noting the company rigorously reports the majority of adverse events found in the FDA database and that none of the 88 deaths reported are due to Ingrezza, Amin tells investors in a research note. Further, the analyst thinks the risk/reward on shares into the December Tourettes data is “significant to the upside.”
Amin views yesterday’s selloff as “unwarranted” and keeps a Buy rating on Neurocrine with a $131 price target. The stock closed yesterday down 13%, or $13.37, to $86.13.
