NBIX
Neurocrine Biosciences, Inc.
NBIX's fundamentals are strong and it looks cheap: trading at 25x earnings, below its usual 45x. Analysts expect strong earnings growth, though they disagree widely on how much.
NBIX Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NBIX's revenue, profitability, cash flow and balance sheet are all currently strong.
NBIX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $169 | — |
| Cheap | 25x | $169 | -0.3% |
| Current | 25x | $169 | — |
| Fair | 44x | $297 | +75% |
| Expensive | 145x | $981 | +479% |
Historical ranges are pointers, not guarantees.
NBIX's PE is in its cheap range at 25x. If earnings grow as analysts expect, today's price would be 19x next year's earnings.
NBIX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for NBIX, with profitability improving. However, they disagree widely on these estimates.
NBIX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.06 | +34% |
| Q3 2026 | $6.75 | +61% |
| Q2 2026 | $6.83 | +102% |
| Q1 2026 | $6.50 | +120% |
| Q4 2025 | $4.67 | +42% |
| Q3 2025 | $4.18 | +11% |
| Q2 2025 | $3.38 | +0.6% |
| Q1 2025 | $2.95 | -20% |
| Q4 2024 | $3.29 | +33% |
NBIX earned $6.75 per share over the past year, up 61% from the year before.
NBIX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +41% |
| Q2 2026 | $959M | +39% |
| Q1 2026 | $814.5M | +42% |
| Q4 2025 | $805.5M | +28% |
| Q3 2025 | $794.9M | +28% |
| Q2 2025 | $687.5M | +16% |
| Q1 2025 | $572.6M | +11% |
| Q4 2024 | $627.7M | +22% |
NBIX's revenue has grown year over year for 21 quarters in a row: $1.1B last quarter, up 41% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | -0.6 points |
| Q2 2026 | 16% | -5.4 points |
| Q1 2026 | 24% | +20 points |
| Q4 2025 | 26% | +3.6 points |
| Q3 2025 | 30% | +0.5 points |
| Q2 2025 | 21% | -3.5 points |
| Q1 2025 | 4.1% | -15 points |
| Q4 2024 | 23% | -6.6 points |
NBIX's operating margin was 30% last quarter, down 0.6 points from the same quarter a year ago.
NBIX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $383.6M | +79% |
| Q2 2026 | $128.6M | +44% |
| Q1 2026 | $136.7M | +153% |
| Q4 2025 | $390.8M | +66% |
| Q3 2025 | $214.3M | +43% |
| Q2 2025 | $89.5M | +69% |
| Q1 2025 | $54.1M | -55% |
| Q4 2024 | $235.2M | +99% |
NBIX generated $1B in free cash flow over the past year, up 75% from the year before.
NBIX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1% | +1M shares |
| 1 year | +2.6% | +2.7M shares |
| 3 years | +4.1% | +4.1M shares |
| 5 years | +7.7% | +7.5M shares |
| Available history | +8.2% | +8M shares |
NBIX has 105M diluted shares, up 2.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $92.1M |
| Q2 2026 | $12M |
| Q1 2026 | $54M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $17.7M |
| Q1 2025 | $150M |
NBIX spent $158M buying back its own shares over the past year.
NBIX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
NBIX has more cash than debt.
NBIX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.7 | Neutral |
| Stochastic | 65.8 | Neutral |
NBIX's weekly RSI is 62 (neutral) and its Stochastic is 66 (neutral).
NBIX PE vs Healthcare Sector
| Metric | NBIX | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 26x | 2.9% below |
| PE % | 17 | 29 | 12 pts below |
NBIX is trading at 25x earnings, in line with the Healthcare sector's median of 26x.
NBIX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $147.8 | 15% above |
| 20 week MA | $156.4 | 8.3% above |
| 50 week MA | $147.5 | 15% above |
| 100 week MA | $138.4 | 22% above |
| 200 week MA | $128.9 | 31% above |
NBIX is in an uptrend: it's above all five of its weekly moving averages, and 31% above its 200-week average.
NBIX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $108.4 | $97.7 | -9.9% |
| 2021 | $97.7 | $85.1 | -13% |
| 2022 | $85.1 | $120.3 | +41% |
| 2023 | $120.3 | $131.8 | +9.5% |
| 2024 | $131.8 | $139.4 | +5.8% |
| 2025 | $139.4 | $145.3 | +4.2% |
| 2026 YTD | $145.3 | $169.4 | +17% |
NBIX has finished higher in four of the last six years. It's up 17% so far in 2026.