Jefferies Has Buy on Neurocrine Bio After Earnings

Jefferies & Co. is out with a research report on Neurocrine Bio. (NASDAQ: NBIX) and it has a Buy rating and a $13 price target on shares.

In a note to clients, Jefferies & Co. writes, "NBIX reported 3Q earnings, beating our estimates on earlier than anticipated recognition of milestones from partner Abbott for the development of elagolix, the lead product candidate for the treatment of endometriosis. We continue to believe elagolix could become the standard of care for second-line treatment of endometriosis and see the VMAT2 program as upside."

Shares of NBIX closed at $6.40 yesterday.