RBC upgrades Neurocrine Biosciences on low tariff exposure for key drug

RBC Capital markets upgrades drugmaker Neurocrine Biosciences NBIX.O to "outperform" from "sector perform", trims PT to $137 from $138

Brokerage expects NBIX's commercial franchise, particularly Ingrezza, to remain solid and durable in the long term, with relatively low exposure to FDA or tariff concerns

Ingrezza is approved for treating involuntary movements in the face, tongue or other body parts related to Huntington's disease, a genetic brain disorder

Brokerage sees potential upside in NBIX's pipeline, particularly with experimental drug osavampator, which has shown favorable antidepressive effects and says it could have a potential market size of $1.8 billion if successful

As of last close, NBIX stock down 33.4% YTD