Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Neurocrine Biosciences
So what: A Jefferies & Co. analyst initiated coverage on Neurocrine with a buy rating and target of $12. If that rather courageous call "hits," it represents a near double for enterprising investors from yesterday's closing price.
Now what: While the possibility of a big return exists, know that Neurocrine, as is the case with all baby biotechs, can plunge just as hard. Just last month, for example, Neurocrine's shares fell sharply after its depression drug candidate, GSK561679, failed in a midstage clinical trial. No matter which way you look at it, Neurocrine is nothing more than a speculation -- and according to many Fools, not a very attractive one, at that.
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