UPDATE: Deutsche Bank Initiates Buy, $15 PT on Neurocrine

Deutsche Bank initiates its coverage on Neurocrine NBIX with a Buy rating and a price target of $15 as it believes share valuation is underestimated. Deutsche Bank notes, "We rate NBIX shares BUY because currently shares reflect only value to Elagolix in endometriosis & zero to pipeline. We believe upside this year will be driven by increased investor confidence in VMAT2 and Elagolix in uterine fibroids." NBIX closed at $8.50 a share on Thursday.