Is Neurocrine primed for takeover? Revenue soars on Ingrezza sales
Kevin Gorman, CEO of Neurocrine Biosciences, presents at a Jefferies investor conference in 2013. Bloomberg/via Getty Images
Booming sales of newly approved drug Ingrezza is driving Neurocrine Biosciences’ $NBIX stock steadily north. The unexpected early success of the drug might bump Neurocrine’s status as a worthy takeover target.
The San Diego company’s share price closed at $72.78, up 20% compared to market close Wednesday. All the fuss is over Ingrezza’s impressive sales for Q3. Each quarter the company has outpaced analysts’ expectations, and Q3 was no exception.
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