Neurocrine Biosciences' Lower Dose Data Puts Its Schizophrenia Candidate In The Game, Analyst Upgrades Stock
Wednesday, Neurocrine Biosciences, Inc. (NASDAQ: NBIX) topline data for its Phase 2 clinical study of NBI-1117568 (NBI-‘568) in adults with schizophrenia.
The new data showed that the once-daily 20 mg dose of NBI-‘568 induced an average 18.2-point reduction from baseline in the Positive and Negative Syndrome Scale (PANSS) after six weeks, compared to 10.8 points in the placebo group.
That 7.5-point difference reached statistical significance with a p-value of p=0.011.
The company noted that none of the other three higher-dosing groups (30, 40, and 60 mg) reached statistical significance.
Piper Sandler upgraded the stock from Neutral to Overweight, with a price target of $159, up from $131, noting that data around 20 mg puts ‘568 squarely “in the game.”
“Though the hand-wringing over Phase 2 data for NBI-1117568 in adults with schizophrenia, is not lost on us.”
The 20 mg dose positions ‘568 as a strong contender among selective muscarinic agonists, offering a promising alternative in the antipsychotic field that moves away from the safety concerns associated with atypical antipsychotics, the analyst notes.
In a field where individualized treatment responses and frequent cycling between options are common, adding another selective muscarinic agonist, even one with a similar profile, holds value. Though the analyst notes that there’s still much to learn about ‘568, but its inclusion in the treatment arsenal is beneficial.
Price Action: NBIX stock is up 3.64% at $128.26 at the last check on Thursday.
Read Next:
Small-Cap Gain Therapeutics Stock Falls On Phase 1 Data From Its Lead Asset For Parkinson’s Disease.
Latest Ratings for NBIX
Date | Firm | Action | From | To |
---|---|---|---|---|
Mar 2022 | Piper Sandler | Downgrades | Overweight | Neutral |
Feb 2022 | Goldman Sachs | Upgrades | Neutral | Buy |
Feb 2022 | Morgan Stanley | Maintains | Equal-Weight |
View More Analyst Ratings for NBIX
View the Latest Analyst Ratings
"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article Neurocrine Biosciences' Lower Dose Data Puts Its Schizophrenia Candidate In The Game, Analyst Upgrades Stock originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.