Neurocrine Biosciences
Develops and commercializes neuroscience and rare-disease medicines led by INGREZZA.
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Profile
Markets INGREZZA for movement disorders, CRENESSITY for congenital adrenal hyperplasia, and VYKAT XR for Prader-Willi syndrome. U.S. product sales anchor the business, supplemented by partner royalties, while INGREZZA remains the dominant commercial asset.
Commercializes INGREZZA for tardive dyskinesia and Huntington's-disease chorea, CRENESSITY for classic congenital adrenal hyperplasia, and VYKAT XR for hyperphagia in Prader-Willi syndrome. The portfolio spans movement disorders and rare endocrine and genetic disease.
Operates primarily in the United States, where most employees are based and its core brands are sold. Royalties from AbbVie-marketed ORILISSA and ORIAHNN and regional valbenazine licenses add partner-commercialized economics. Drug discovery and development extend into psychiatry and gene therapy through internally led and licensed programs.
Execution rests on translating neuroscience research into approved medicines and building focused commercial franchises around them. INGREZZA remains the dominant commercial asset; the business also depends on collaborators for parts of its pipeline and overseas commercialization. A U.S. Department of Justice inquiry concerns INGREZZA sales and marketing, with timing and outcome unresolved.
Company facts
Key statistics
Year to date +9.6% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 13, 2026 | Bernstein | Target | $221 | $218 | |
| Aug 13, 2026 | Morgan Stanley | Reiterate | Equal Weight | $196 | $182 |
| Aug 13, 2026 | Deutsche Bank | Target | $190 | $165 | |
| Aug 3, 2026 | Wedbush | Reiterate | Outperform | $185 | $194 |
| Aug 3, 2026 | H.C. Wainwright | Reiterate | Buy | $192 | $215 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.65 | $1.39 | −15.8% | $891.2M | $959.0M | +7.6% | −10.08% |
| May 5, 2026Q1 FY26 | $1.28 | $1.94 | +51.6% | $768.3M | $814.5M | +6.0% | +8.86% |
| Feb 11, 2026Q4 FY25 | $1.80 | $1.88 | +4.4% | $790.5M | $805.5M | +1.9% | −10.43% |
| Oct 28, 2025Q3 FY25 | $1.58 | $2.04 | +29.1% | $806.8M | $794.9M | −1.5% | −6.35% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $572.6M | $687.5M | $794.9M | $805.5M | $814.5M | $959.0M | |
| Gross profit | $563.4M | $676.2M | $780.9M | $787.9M | $800.7M | $935.8M | |
| Operating income | $23.6M | $145.6M | $239.0M | $210.9M | $186.0M | $153.0M | |
| Net income | $7.9M | $107.5M | $209.5M | $153.7M | $197.9M | $144.4M | |
| Diluted EPS | $0.08 | $1.06 | $2.04 | $1.48 | $1.91 | $1.39 | |
| Gross margin | 98.4% | 98.4% | 98.2% | 97.8% | 98.3% | 97.6% | |
| Operating margin | 4.1% | 21.2% | 30.1% | 26.2% | 22.8% | 16.0% |
Fiscal years (4-quarter sums)FY21 $1.13B · FY22 $1.49B · FY23 $1.89B · FY24 $2.36B · FY25 $2.86B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $389.8M · Total debt $401.8M · Total assets $5.36B · Shareholders' equity $3.69B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 100.55M · Float 100.38M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 13.71M | 13.64% | 13F | Aug 7, 2026 |
| JPMorgan Chase & Co | 6.40M | 6.36% | 13F | Aug 12, 2026 |
| Dodge & Cox | 5.58M | 5.55% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 4.97M | 4.95% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 4.55M | 4.52% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 28, 2026 | Leslie V. Norwalk | director | −1,250 | $182.01 |
| Jul 9, 2026 | Darin Lippoldt | officer: Chief Legal Officer | −10,000 | $179.60 |
| Jul 10, 2026 | Ingrid Delaet | officer: Chief Regulatory Officer | −4,367 | $181.02 |
| Jul 9, 2026 | Ingrid Delaet | officer: Chief Regulatory Officer | −8,433 | $178.72 |
| Jul 7, 2026 | Ingrid Delaet | officer: Chief Regulatory Officer | −3,401 | $178.57 |
Peers
- Teva (ADR)
Direct VMAT2 rival in tardive dyskinesia and Huntington’s chorea
- Crinetics Pharmaceuticals
Late-stage ACTH-receptor challenger in classic CAH
- Bristol-Myers Squibb
Commercial muscarinic benchmark for Phase 3 schizophrenia program
- Aardvark Therapeutics
Paused Phase 3 hyperphagia rival in Prader-Willi syndrome
- Rhythm Pharmaceuticals
Clinical-stage MC4R programs for Prader-Willi hyperphagia
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Neurocrine Biosciences | $154.94 | +0.57% | $15.49B | 22.6 | 16.9 | 4.6 | +39.5% |
| Teva (ADR) | $36.30 | −0.36% | $42.44B | 60.7 | 12.9 | 2.5 | −0.8% |
| Crinetics Pharmaceuticals | $84.97 | +0.13% | $8.99B | — | — | 213.3 | +2,336.3% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Aardvark Therapeutics | $6.14 | +6.23% | $126.7M | — | — | — | — |
| Rhythm Pharmaceuticals | $107.17 | −0.09% | $7.35B | — | — | 30.6 | +46.9% |
| Median | 37.7 | 11.7 | 16.7 | +26.3% |