Neurocrine Biosciences, Inc. (NBIX) Stock

Neurocrine Biosciences, Inc. (NBIX) is a Healthcare stock trading at $152.92 (as of 2026-08-20), with a market capitalization of $15.54B and a trailing P/E of 22.0. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Neurocrine Biosciences, Inc. develops and markets prescription pharmaceuticals for neurological, endocrine, and psychiatric disorders. Its commercial therapies include INGREZZA for tardive dyskinesia, ONGENTYS for Parkinson’s disease (as an adjunct to levodopa-based regimens), ORILISSA for endometriosis-related pain, and ORIAHNN for heavy menstrual bleeding from uterine fibroids, along with clinical programs in areas such as pediatric and adult epilepsy and major depressive disorder.

Understand Neurocrine Biosciences, Inc.: how it makes money

Neurocrine Biosciences develops and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders, and it makes money primarily from commercial product sales, including INGREZZA for tardive dyskinesia and ONGENTYS as an adjunct therapy in Parkinson's disease.

Profit generation is structurally driven by demand for its lead commercial product, INGREZZA, because Ingrezza net product sales (0.66B USD) are the largest component of total net product sales (0.8B USD).

Revenue by segment (latest quarter)
Ingrezza$0.7B
Crenessity$0.1B
Collab$0.0B

Business quality (Strong): Overall picture is clear (product sales dominate), but the provided revenue breakdown labels do not map perfectly to a fully official segment structure, and some candidate line items (such as VYKAT XR) are not included in the segment list that best matches the 0.8B USD total.

Valuation: At 26× earnings, NBIX trades 54% above the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

  • Lead product is the core revenue driver: Ingrezza net product sales are the largest component of net product sales (0.66B USD out of 0.8B USD).
  • Multiple commercialization and development efforts: The company markets treatments across multiple indications (for example tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids) and also has clinical programs in various therapeutic areas.
  • Access and reimbursement metrics are being tracked: Crenessity reimbursement coverage of dispensed prescriptions is provided (80 percent), which indicates management and investors can monitor real-world access.

Bear case

  • Revenue concentration risk: Because Ingrezza is the largest revenue component, weaker-than-expected Ingrezza performance could have an outsized impact on overall results.
  • Program adoption and reimbursement can limit growth: Crenessity reimbursement coverage is not 100 percent (80 percent), which can constrain uptake even if patients are eligible.
  • Non-core efforts may be slower to scale: Portions of revenue described as collaboration revenue (0.01B USD) are much smaller than lead product sales, so scaling those contributions may not offset volatility in core products.
Valuation — source: SEC EDGAR (first-party)
Price$152.92
Market Cap$15.54B
P/E Ratio22.0
EV / EBITDA18.5
Price / Book4.21
Price / Sales4.61
FCF Yield5.6%
DCF Value (model)$99.79
DCF Upside vs Price-34.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.86B
Net Margin16.7%
Revenue Growth (YoY)39.5%
EPS Growth (YoY)31.2%
FCF Growth (YoY)43.7%
Financial Health — source: SEC EDGAR
Altman Z-Score8.34 (safe)
Valuation vs Sector & Industry
Stock P/E22.0
Sector P/E (Healthcare)21.6
Industry P/E (Pharmaceutical Products)17.2
vs Sector2.0%
vs Industry28.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($1.76B)
Institutional Holders Tracked10
Congressional Trades (recent)2
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOKyle W. Gano
Employees1,800
CountryUS
IPO Date1996-05-23

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NBIX earnings history · NBIX institutional & insider holders · NBIX KPIs & operating metrics · NBIX financials · NBIX investor presentations & press releases · NBIX SEC filings · NBIX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.