This has been a lousy stretch for Neurocrine Biosciences (NBIX), and just as the company showed a much-needed better-than-expected quarterly result for lead drug Ingrezza, the surge in COVID-19 infections tied to the delta variant threatens to unravel the nascent recovery. Beyond Ingrezza sales, Neurocrine remains a “hurry up and wait” story, with a largely early-stage pipeline.
I continue to see real value in Neurocrine for longer-term shareholders, with a fair value close to $125/share, but it’s going to take more progress on/against COVID-19 for sentiment to shift, as well as some successful trial read-outs.
Read the full article here:
Neurocrine Biosciences Trading Near Its 52-Week Low As Delta Threatens The Ingrezza Rebound
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