gimp570
Registered: Jan 2003
Posts: 965 |
02-11-13 04:36 PM
I guess this is going to be a long long hold
10:39 NBIX Neurocrine Biosci: adding VMAT2 to model; target raised to $15 from $11.50 at MKM Partners (11.07 +0.23)
MKM Partners raises their NBIX tgt to $15 from $11.50 and notes that Neurocrine's VMAT2 inhibitor, NBI-98854, is currently in two Phase 2 trials for tardive dyskinesia (TD), and they expect Neurocrine to initiate the Phase 3 program in 2Q14 with a potential launch in 2016. Based on potential 2016 launch, they are adding NBI-98854 to their Neurocrine model with a 2017 worldwide sales estimate of $60mn. They are also increasing our valuation of NBI-98854 from $125mn to $400mn. A Phase 2b trial of NBI-98854 in TD is expected to report in 2Q13, with a second trial expected to report in 3Q13
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