Neurocrine given neutral rating by Merrill

Neurocrine Bioscience Inc. was rated at neutral by Merrill Lynch analyst Eric Ende. The company announced that a 157-patient phase 2 trial for its altered peptide ligand (APL) candidate did not meet the primary endpoint for efficacy in multiple sclerosis. Neurocrine will discontinue the program in MS, but it expects phase 2 data from a 188-patient trial for APL in type 1 diabetes in the third quarter. While the company has several pipeline candidates in phase 2, the key driver for the company is Indiplon for the treatment of insomnia. Shares of the San Diego pharmaceutical company were up 60 cents, or 0.87%, at $69.30 on volume of 909,459 shares versus the three-month running average of 608,920 shares. (Nasdaq: NBIX)

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