Neurocrine Biosciences Hands Out Treats For This Halloween Season

It may have not been on par with a full-size Snickers, but Neurocrine Biosciences (NASDAQ:NBIX) delivered investors a slightly late Halloween treat, as third quarter results confirmed reacceleration in the core Ingrezza tardive dyskinesia franchise. Healthier trends here remove the main source of anxiety around the stock and give the company a somewhat cleaner runway heading into some significant clinical updates over the next year.

I've boosted my fair value in response to stronger Ingrezza trends, but the increase in the share price since my last updates (here and here) doesn't leave a tremendous amount of easy upside right now. Should upcoming trials go Neurocrine's way, though, there is meaningful upside potential to be unlocked from de-risking the pipeline. I'm still positive about the long-term potential of Neurocrine shares, but with the catch-up in the share price, it's not as compelling of an idea as before.

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Neurocrine Biosciences Hands Out Treats For This Halloween Season