I am a biotech analyst for my own firm. I think Neurocrine is a great overall company. The stock should do quite well towards the second half of 1998 and in 1999. My price target is $18. This company has great management, science and a fantastic cash spending plan. This is a premier core biotech stock for any one interested in the industry. There are only a handfull of potential blockbuster biotechs, NBIX, LGND, SUGN, AXPH and CBMI.
NBIX has received Buy recommendations from Gruntal & Co., Prudential, Alex Brown Inc., Robert Stephens and Nationsbanc Montgomery with 12 month price projections from $16 to $22. Gruntal actually increased their projection from $15 to $18 from 2/98 to 5/13/98. The price targets are based upon current prices of comparable biotechs, i.e. GILD, Glfd, HGSI and NRGN, as well as a good deal of clinical data will be released in 1998. I attended the Annual meeting 5-27-98. Overall I would say it was very informative and the following items were highlighted by Gary Lyons: 1. Gary was very excited with the potential of the IL-4 Fusion Toxin being tested on brain cancer with the possibility of use for other types of cancer as well. (see news release of May 12, 1998). They expect to complete safety and efficacy trials by the end of 98 and if PH. III trials progress satisfactorily, submission to the FDA with expedited review status could occur by 2000. 2. The APL drug in Phase II could be far superior to the current MS drugs (Avonex, Betaseron) on the market. 3. NBIX plans on entering into another research collaboration with a major parmaceutical co. before the end of the year. Hope this info. helps. Good Luck!