Neurocrine Biosciences, Inc.
$165.11
+6.6%Neurocrine Biosciences, Inc. discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas. Its lead asset is INGREZZA, a VMAT2 inhibitor for the treatment of tardive dyskinesia. The company's commercial products include ONGENTYS, a catechol-O-methyltransferase inhibitor used as an adjunct therapy to levodopa/DOPA decarboxylase inhibitors for patients with Parkinson's disease; ORILISSA for the management of moderate to severe endometriosis pain in women; and ORIAHNN, a non-surgical oral medication option for the management of heavy menstrual bleeding associated with uterine fibroids in pre-menopausal women. Its product candidates in clinical development include NBI-921352 for treating pediatric patients, as well as adult focal epilepsy indications; and NBI-827104 to treat rare pediatric epilepsy and essential tremor. The company's products in clinical development also comprise NBI-1065845 for the treatment of major depressive disorder; NBI-1065846 for treating anhedonia in major depressive disorder; and NBI-118568 for the treatment of schizophrenia. It has license and collaboration agreements with Heptares Therapeutics Limited; Takeda Pharmaceutical Company Limited; Idorsia Pharmaceuticals Ltd; Xenon Pharmaceuticals Inc.; Voyager Therapeutics, Inc.; BIAL Portela & Ca, S.A.; Mitsubishi Tanabe Pharma Corporation; and AbbVie Inc. Neurocrine Biosciences, Inc. was incorporated in 1992 and is headquartered in San Diego, California.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is elevated (P/E 34.3).
Valuation inputs: P/E 34.3, earnings yield +2.9%, momentum +6.6%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is acceptable (ROE +14.7%, ROIC +10.8%).
Profitability stack: net margin +16.7%, ROE +14.7%, ROIC +10.8%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile looks controlled across current risk inputs.
Risk factors: liabilities/assets +29.8%, momentum +6.6%, net margin +16.7%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Neurocrine Biosciences, Inc. Market vs Earnings Trajectory
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Neurocrine Biosciences, Inc. Fair Value Envelope
Neurocrine Biosciences, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Healthy operating margins demonstrate effective cost control and strong business fundamentals.
Net Profit Margin
Strong net margins indicate efficient operations and favorable tax/interest management.
Effective Tax Rate
Higher tax burden may reflect limited tax optimization or operations in high-tax jurisdictions.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
Neurocrine Biosciences, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.
Neurocrine Biosciences, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Debt-to-Equity Ratio
Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Balanced asset mix between current and non-current assets, typical of many stable businesses.
Financial Health Insight
Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.
Neurocrine Biosciences, Inc. Street Expectations Map
Wall Street analysts project that NBIX stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 186.43, with estimates ranging from a low of 140.00 to a high of 230.00.
The consensus 1-year price target stands at 186.43, with estimates ranging from a low of 140.00 to a high of 230.00.
Analyst Consensus Analysis
Upside Potential
Moderate upside. Analysts expect positive returns but with limited margin of safety. Consider entry timing.
Analyst Agreement
Mixed analyst views. Wide target range suggests differing opinions on key value drivers, growth prospects, or risk factors.
Risk-Reward Profile
Favorable risk-reward. Potential upside significantly exceeds downside risk, offering asymmetric return profile attractive for risk-tolerant investors.
Analyst Conviction
Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.
Market Sentiment Insight
Asymmetric upside: Strong return potential with favorable risk-reward profile. The limited downside relative to upside makes this an attractive risk-adjusted opportunity for growth-oriented portfolios.
Neurocrine Biosciences, Inc. Insider Positioning
During the last 12 months, insiders have sold $83.53M worth of NBIX shares, with no buying activity reported.
3 Months
0
0.00
292.0K
45.22M
-45.2M
-$45.22M
3-6 Months
0
0.00
45.2K
6.23M
-6.2M
-$6.23M
6-9 Months
0
0.00
54.3K
8.12M
-8.1M
-$8.12M
9-12 Months
0
0.00
187.0K
23.96M
-24.0M
-$23.96M
Top Buyers
No buying activity
Top Sellers
Gorman Kevin Charles
Director
$51.27M
Onyia Jude
Officer: Chief Scientific Officer
$13.93M
Gano Kyle
Director, Officer: Chief Executive Officer
$4.63M
Rastetter William H
Director
$2.73M
Pops Richard F
Director
$2.36M
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $83.53M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
5 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
Insider Activity Insight
Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.
No Dividend Yield Data
NBIX has not reported any dividend yield values in the available annual periods.
nbix Dividend History
Learning Layer
Related Guides
Build conviction on NBIX by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.