NBIX, TVTX, ARDX, BIIB: Biotech Stocks Ahead Of 3Q Earnings

Neurocrine Biosciences’ (NBIX) recent pipeline wins are a nice way to end the year, notes Wedbush’s Laura Chico. She discusses the outlook for biotech stocks ahead of 3Q earnings. Wedbush has an outperform rating and a $137 price target on NBIX. She then looks at Travere Therapeutics (TVTX). She highlights that while shares continue to trade in the $7/share range, we see a compelling entry point at the present. She also talks about Ardelyx (ARDX) which she says that its improving gross/net discount could also provide a tailwind as we wait the Xphozah launch commencement in November. Additionally, she mentions that Wedbush is looking for a slight 3Q revenue miss for Biogen (BIIB). Tune in to find out more about the stock market today.