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Biotech / Medical : Neurocrine Biosciences (NBIX)
NBIX 132.21-0.3%3:59 PM EST

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To: Billy Dunn who started this subject6/18/2002 7:26:13 PM
From: mopgcw  Read Replies (2) of 1834
 
RESEARCH ALERT-Morgan Stanley starts Neurocrine

NEW YORK, June 18 (Reuters) - Morgan Stanley said on Tuesday
that it started coverage of Neurocrine Biosciences Inc.
with an "equal-weight" rating and forecast that the will trade in
line with its peers until later this year or early next year.

Morgan Stanley analysts Ian Somaiya and Caroline Copithorne rate
the biotechnology products industry, which includes Neurocrine,
as "attractive."

"We believe the valuation (of Neurocrine) is attractive based on
several measures," the analysts said in a research note. "Our
earnings estimates are based solely on the success of Indiplon
for insomnia."

Morgan Stanley, which has a $39 price target on Neurocrine
shares, is forecasting a 2002 loss of $3.10 per share and a 2003
loss of $1.53 per share for the company.

Neurocrine shares closed at $28.59 on Monday and have a 52-week
trading range of $23.25 to $54.26.

REUTERS
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