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Biotech developing treatments for neurological and endocrine disorders, led by Ingrezza for tardive dyskinesia and Huntington's chorea.
Biotech developing treatments for neurological and endocrine disorders, led by Ingrezza for tardive dyskinesia and Huntington's chorea.
Sells Ingrezza and Crenessity itself in the US, mostly through specialty pharmacies, with Ingrezza carrying the bulk of the business. It also receives royalties from AbbVie on the endometriosis drug Orilissa and from Mitsubishi Tanabe on Ingrezza in parts of Asia, which help fund its nervous-system pipeline.
Moat: narrow (IP / patents, regulatory licence). Ingrezza's category leadership in tardive dyskinesia is protected by patents into the early 2030s.
Headquarters: San Diego, California, US · Founded: 1992 · Employees: 2,000
Size Neurocrine Biosciences (NBIX) is a United States Health Care company (Biotechnology) with a market value of $16.7B, the 560th largest of 3,117 United States companies the cockpit tracks. Shares closed at $164.63 on 6 Nov 2026.
Performance Over six months the shares gained 8.1%, against +10.4% for the median peer and -1.1% for the United States market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 38.0% over the last twelve months (peer median +20.8%); the operating margin is 24.6% (peer median 20.8%).
Valuation It trades at 18.2× forward earnings against a peer median of 34.1× (4th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is -24 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 13.7 points above its cost of capital (6.6% WACC).
Short interest Short interest is 6.3% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.70B | $2.86B | $2.36B | $1.89B | $1.49B |
| Revenue growth | — | +21% | +25% | +27% | — |
| Gross profit | $3.57B | $2.81B | $2.30B | $1.83B | $1.45B |
| EBITDA | $994M | $667M | $624M | $416M | $266M |
| Net income | $702M | $479M | $341M | $250M | $154M |
| Free cash flow | $973M | $749M | $557M | $362M | $323M |
| Capital expenditure | $26.1M | $34.0M | $38.2M | $28.3M | $16.5M |
| Total debt | $392M | $471M | $496M | $460M | $280M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Neurocrine Biosciences NBIX | $16.7B | +8% | +38% | 25% | 18.2× | -1.7% |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 18.4× | -0.1% |
| Teva Pharmaceutical Industries Limited Sponsored ADR TEVA | $49.7B | +19% | -4% | 19% | 15.1× | 10.2% |
| Bristol Myers Squibb BMY | $127B | +12% | +4% | 33% | 9.7× | -12.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NBIX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.6% | -3.0% | 3rd highest of 21 |
| 6-month return | +8.1% | +10.4% | 9th lowest of 21 |
| Distance from 52-week high | -11.6% | -21.1% | 6th highest of 21 |
| Revenue growth (TTM) | +38.0% | +20.8% | 7th highest of 19 |
| Operating margin | 24.6% | 20.8% | 9th highest of 19 |
| Forward P/E | 18.2× | 34.1× | 4th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -1.7% | 10.0% | 2nd least demanding of 15 |
| Growth delivered (Del g) | +22.3% | +18.5% | 6th highest of 15 |
| Hurdle (Req g minus delivered) | -24.0 pp | -8.5 pp | 3rd least demanding of 15 |
| ROIC minus cost of capital | +13.7 pp | -0.3 pp | 6th highest of 20 |
| EV / EBITDA | 16.4× | 17.0× | 6th cheapest of 11 |
| Net debt / EBITDA | -0.3× | -0.5× | 6th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Neurocrine Biosciences NBIX | United States | $16.7B | +8% | +38% | 25% | 18.2× | -1.7% | +22.3% |
| BridgeBio Pharma BBIO | United States | $14.5B | +10% | +167% | -37% | n/a | n/a | n/a |
| Summit Therapeutics SMMT | United States | $13.1B | -10% | n/a | n/a | n/a | n/a | n/a |
| Elanco Animal Health ELAN | United States | $12.9B | +9% | +12% | 7% | 21.8× | 34.8% | +7.6% |
| Cspc Pharma 1093.HK | Hong Kong | $12.4B | +5% | +25% | 28% | 9.3× | -10.3% | +0.1% |
| BioNTech SE Sponsored ADR BNTX | United States | $22.8B | -7% | -1% | -38% | n/a | 5.7% | +42.6% |
| Halozyme Therapeutics HALO | United States | $11.8B | +62% | +41% | 57% | 10.7× | 2.5% | +39.2% |
| United Therapeutics UTHR | United States | $24.1B | -1% | +2% | 44% | 22.0× | -0.4% | +16.5% |
| Bio-Techne TECH | United States | $11.4B | +51% | 0% | 22% | 35.9× | 31.3% | +5.5% |
| Kymera Therapeutics KYMR | United States | $11.2B | +53% | +134% | -396% | n/a | n/a | n/a |
| Wuxi Bio 2269.HK | Hong Kong | $25.0B | +43% | +22% | 32% | 28.7× | 21.8% | +30.2% |
| BioMarin Pharmaceutical BMRN | United States | $10.9B | +4% | +20% | 19% | 10.3× | 6.5% | +12.0% |
| Sichuan Kelun Pharmaceutical 002422.SZ | China | $10.8B | +30% | 0% | 9% | 37.3× | 7.2% | +2.3% |
| ALTEOGEN 196170.KS | South Korea | $10.3B | -46% | +61% | 53% | 47.0× | 29.8% | +38.5% |
| Vaxcyte PCVX | United States | $10.1B | +21% | n/a | n/a | n/a | n/a | n/a |
| Krystal Biotech KRYS | United States | $8.92B | -2% | +26% | 48% | 34.7× | 11.9% | +26.0% |
| Genscript Biotech 1548.HK | Hong Kong | $8.81B | +96% | +53% | 12% | 297.9× | 36.5% | +19.8% |
| Genmab A/S GMAB.CO | Denmark | $32.1B | +115% | +14% | 32% | 44.8× | 11.6% | +19.5% |
| Arrowhead Pharmaceuticals ARWR | United States | $8.22B | -20% | +17% | -34% | n/a | n/a | n/a |
| Celltrion 068270.KS | South Korea | $34.3B | +10% | +40% | 32% | 34.1× | 8.3% | +17.6% |
| Twist Bioscience TWST | United States | $7.95B | +112% | +19% | -32% | n/a | n/a | n/a |