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Expert perspectives highlight the interaction of hypothalamic dysfunction, biological, behavioral, and environmental factors in shaping the challenges of hyperphagia in Prader-Willi syndrome for patients and families beyond obesity-related complications
The manuscript underscores the importance of multidimensional assessment and integrated care management across the patient lifespan
Experts conclude VYKAT® XR (diazoxide choline) extended-release tablets represent a significant advancement in the treatment of hyperphagia, potentially complementing behavioral and environmental approaches

, /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced a publication of expert perspectives highlighting hyperphagia in Prader-Willi syndrome (PWS) as a complex, neurobiologically driven condition that extends beyond excessive hunger and requires comprehensive assessment and management across the patient lifespan. The publication provides insights from an international group of clinical and scientific experts on the evolving understanding of hyperphagia and its implications for the care of people with PWS. The manuscript appears in Orphanet Journal of Rare Diseases.

"Neurocrine is committed to advancing understanding of Prader-Willi syndrome and addressing the needs of individuals and families affected by this complex disorder," said Eiry W. Roberts, M.D., Chief Medical Officer, Neurocrine Biosciences. "Recognizing hyperphagia as a multifaceted, neurobehavioral condition is essential to understanding its real-world impact on people with PWS and their families. By connecting the underlying disease biology with the daily experience of hyperphagia, these expert perspectives can help inform how best to assess and manage the symptoms and thus support continued progress in care for the PWS community."

The manuscript brings together perspectives from global experts in endocrinology, psychiatry, neuroscience, obesity, genetics, and patient advocacy to advance understanding of hyperphagia in PWS and inform future research and clinical practice. It describes how disruptions in the hypothalamus neural pathways that regulate hunger, fullness, and food-related reward can interact with autonomic dysfunction and environmental factors to shape the varied experience of hyperphagia and its broader effects on individuals and families. Perspectives also outline considerations for assessment and management of hyperphagia and underscore the need for care that integrates biological, behavioral, and environmental approaches across childhood, adolescence, and adulthood. While environmental controls, such as locking cabinets and refrigerators or avoiding social situations where food is present, remain important for managing food access, the publication highlights the need for a more comprehensive approach that addresses the underlying complexity of hyperphagia.

Key themes from the publication include:

Hyperphagia is multidimensional. Experts described hyperphagia as arising from multiple interconnected factors, including changes in how the brain regulates hunger, fullness, and food-related reward, as well as behavioral and environmental factors, with consequences extending beyond food intake alone.
Assessment must capture the full experience. Experts noted that individuals living in highly structured environments may show relatively few observable food-seeking behaviors despite experiencing persistent thoughts about food and a strong drive to eat. As a result, existing assessment tools may underestimate disease severity, as well as success, in some patients. Evaluation should be multidimensional and consider food-related thoughts and behaviors, clinical observations, environmental context, and caregiver perspectives.
Adolescence and transition to adult care are particularly vulnerable periods. Loss of structured support systems, fragmented care, increased independence, and the associated increase in uncertainty, combined with family exhaustion, may contribute to worsening symptoms and increased health risks. Continued expert support is essential to reduce potential clinical complications and maintain quality of life.
Integrated management remains essential. Food security and controlled food environments continue to be foundational therapeutic intervention rather than environment management alone. Experts emphasized the need to combine biological, behavioral, and environmental approaches within multidisciplinary care, with particular attention to vulnerabilities during transition periods.
Pharmacologic treatment can complement foundational support. Medication may lessen the burden of hyperphagia on individuals and caregivers by providing more flexibility in constant management. In this context, VYKAT® XR (diazoxide choline) extended-release tablets represent a significant advancement as the first FDA-approved treatment of hyperphagia in PWS. Pharmacological therapy is an important component of hyperphagia management and should be considered in multidisciplinary care.

"Hyperphagia in Prader-Willi syndrome extends far beyond hunger or food intake. It affects behavior, autonomy, and daily life for individuals living with PWS and their families," said Maithé Tauber, M.D., Professor Emeritus of Pediatrics at Université Toulouse III and lead author of the publication. "Improving care will rely on a truly integrated approach, one that deepens our understanding of the underlying biology, reflects the experience of individuals and their families, and actively engages healthcare teams within well-coordinated systems of care that support patients from birth throughout their lives."

Scientific and clinical experts also identified additional priorities for research and clinical care in PWS, including the development of validated outcome measures for clinical trials, identification of biomarkers, and creation of care models that more closely connect mechanistic insights with real-world clinical practice.

About Prader-Willi Syndrome
Prader-Willi syndrome (PWS) is a rare genetic neurodevelopmental disorder caused by the loss of expression of specific genes on the paternally inherited copy of chromosome 15. The Prader-Willi Syndrome Association USA estimates that PWS occurs in one in every 15,000 live births. The defining symptom of PWS is hyperphagia, a chronic and life-threatening condition neurologically driven by an intense, persistent sensation of hunger and characterized by food preoccupations, an extreme drive to consume food, food-related behavior problems, and a lack of normal satiety, which can severely diminish the quality of life for individuals with PWS and their families.

Hyperphagia can lead to significant mortality (e.g., stomach rupture, choking, accidental death due to food-seeking behavior) and longer-term co-morbidities such as diabetes, obesity, and cardiovascular disease.

About VYKAT® XR (diazoxide choline) Extended-Release Tablets
VYKAT XR was approved by the U.S. Food and Drug Administration (FDA) on March 26, 2025, and is now commercially available to U.S. patients.

VYKAT XR is indicated for the treatment of hyperphagia in adults and pediatric patients 4 years of age and older with Prader-Willi syndrome (PWS).

IMPORTANT SAFETY INFORMATION

Contraindications
Use of VYKAT XR is contraindicated in patients who have a known hypersensitivity to diazoxide, other components of VYKAT XR, or to thiazides.

Warnings and Precautions

Hyperglycemia
Hyperglycemia, including diabetic ketoacidosis, has been reported. Before initiating VYKAT XR, test fasting plasma glucose (FPG) and HbA1c; optimize blood glucose in patients who have hyperglycemia. During treatment, regularly monitor fasting glucose (FPG or fasting blood glucose) and HbA1c. Monitor fasting glucose more frequently during the first few weeks of treatment in patients with risk factors for hyperglycemia.

Risk of Fluid Overload
Edema, including severe reactions associated with fluid overload, has been reported. Monitor for signs or symptoms of edema or fluid overload. VYKAT XR has not been studied in patients with compromised cardiac reserve and should be used with caution in these patients.

Adverse Reactions
The most common adverse reactions (incidence ≥10% and at least 2% greater than placebo) included hypertrichosis, edema, hyperglycemia, and rash.

Please see the full Prescribing Information, including Medication Guide.

About Neurocrine Biosciences, Inc.
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing, and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine, and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis*, and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook, and YouTube. (*in collaboration with AbbVie)

The NEUROCRINE BIOSCIENCES Logo, NEUROCRINE, and YOU DESERVE BRAVE SCIENCE are registered trademarks of Neurocrine Biosciences, Inc. VYKAT and the VYKAT logo are registered trademarks of Soleno Therapeutics, Inc., a Neurocrine Biosciences company.

Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the potential benefits to be derived from VYKAT XR for the treatment of Prader-Willi syndrome (PWS); the value and benefits VYKAT XR brings to patients with PWS; and the potential for the expert perspectives described in the publication to inform future research, clinical practice, and the assessment and management of hyperphagia in PWS. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: risks and uncertainties regarding whether the expert perspectives described in the publication will inform future research, clinical practice, or the assessment and management of hyperphagia in PWS; risks and uncertainties associated with our business and finances in general, as well as risks and uncertainties associated with the commercialization of VYKAT XR, including the extent to which patients and physicians accept and adopt VYKAT XR; whether VYKAT XR receives adequate coverage and reimbursement from third-party payors; risks and uncertainties relating to competitive products and technological changes that may limit demand for VYKAT XR; risks associated with dependence on third parties for development and manufacturing activities related to VYKAT XR, and risks associated with managing these third parties; risks that additional regulatory submissions for VYKAT XR may not occur or be submitted in a timely manner; risks that the FDA or other regulatory authorities may make adverse decisions regarding VYKAT XR; risks that post-approval commitments or requirements for VYKAT XR may be delayed; risks that VYKAT XR may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and other risks described in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof except as required by law.

© 2026 Neurocrine Biosciences, Inc. All Rights Reserved. CAP-DCCR-US-0001 10/2026 

SOURCE Neurocrine Biosciences, Inc.

Decades of real-world medical records highlight the diverse challenges of living with classic congenital adrenal hyperplasia and how needs evolve from childhood through adulthood Patient records showed growth and bone-age monitoring in childhood; puberty and reproductive health concerns through adolescence and young adulthood; and increasingly diverse clinical needs in adulthood, while treatment and self-management demands persisted across life stages The analysis captured impacts beyond traditional medical complications, including daily activities, school, work, caregiving, self-management, and access to care Mapping patient experiences over time may help healthcare professionals anticipate evolving needs and inform education, support strategies, and coordination across care teams , /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced new real-world data demonstrating how the clinical and day-to-day impact of classic congenital adrenal hyperplasia can vary among individuals and evolve throughout a patient's life. The findings will be presented at the Endocrine Nurses Society Annual Symposium 2026, taking place Oct. 16-17 in Phoenix.

The analysis used a novel patient journey mapping approach to combine de-identified electronic medical records from CAHtalog®, a registry of patients with classic congenital adrenal hyperplasia (CAH) in the United States developed by Neurocrine in partnership with the CARES Foundation. CAHtalog was designed to characterize treatment patterns over time, natural history, and impact of CAH. The records used for this analysis spanned decades of care across providers, specialties, and health systems, allowing clinical, treatment, monitoring, and humanistic experiences to be examined within individual patients with CAH.

"Classic congenital adrenal hyperplasia is a complex, lifelong disease, and every person living with CAH experiences the condition differently, with needs that change over time," said Eiry W. Roberts, M.D., Chief Medical Officer, Neurocrine Biosciences. "By connecting decades of real-world medical records into longitudinal patient journeys, this analysis reveals how the impact of the condition accumulates across the lifespan and highlights challenges that might otherwise be missed in traditional clinical assessments. These insights may help healthcare professionals anticipate periods when patients could benefit from additional education, support, and coordination from their care team."

Electronic medical records from 10 adults (four males, six females) with classic CAH in the CAHtalog registry were used to construct aggregated and sex-stratified patient journeys.* The data comprised more than 2,800 CAH-relevant events representing more than 300 patient-years of medical history. Patient journeys were developed using large language model-assisted analysis and were reviewed and validated by the study team.

Patient records reflected a range of clinical and day-to-day challenges across life stages. Impacts emerged in infancy and centered on diagnosis, treatment, managing acute illness, and preparing caregivers for emergency steroid use. In childhood, records reflected growth-related concerns with bone-age monitoring becoming increasingly important. During adolescence, puberty brought new androgen-related symptoms and challenges with staying on treatment, while monitoring hormone and steroid levels became a greater focus. In young adulthood, new reproductive, surgical, and transition-of-care needs emerged. In adulthood, patients experienced a wider range of health concerns and greater need for imaging and testing.

Treatment, monitoring, caregiver support, and self-management demands recurred and evolved across life stages. Glucocorticoid dose adjustments and stress dosing, or temporarily increasing steroids during illness, injury, or other periods of physical stress, were documented over time in all 10 patients. Records also reflected ongoing monitoring and care coordination, including specialty referrals, changes in providers, treatment access, and the transition to adult endocrinology. Treatment management evolved from caregiver-led support to increasing self-management. These findings underscore ongoing education and preparedness needs for patients and caregivers.

Routine clinical records captured substantial challenges beyond medical complications, extending to school, work, and daily functioning. These impacts evolved over time from challenges managing treatment and progressing in sports during childhood to disruptions in education, work, and physical activity later in life.

While many treatment and weight-related impacts were shared across sexes, the analysis also identified certain sex-specific aspects of care. Menstrual concerns were documented among females, and testicular imaging and testicular adrenal rest tumor concerns were documented among males.

"Nurses are uniquely positioned to understand the full experience of living with adrenal insufficiency — not only the laboratory values and clinical data, but how the condition affects patients and families as they navigate daily life, transitions in care, and changing needs over time," said Louise Fleming, Ph.D., MSN-Ed, RN, FAAN, presenting author and Professor of Nursing at the University of Virginia School of Nursing. "Recognizing the broader patient journey can help us anticipate when additional education, stress-dosing preparation, self-management support or care coordination may be needed. It also allows us to move beyond responding to individual clinical encounters toward providing more proactive, coordinated and patient-centered care across the lifespan."

*This descriptive analysis was intended to provide qualitative insights into patient experiences rather than quantitative estimates, with some observations based on one or two individuals. The findings are illustrative and should not be interpreted as prevalence estimates or evidence of causality. 

Additional Presentations at the Endocrine Nurses Society Annual Symposium 2026 Include:

Long-term Treatment with Crinecerfont Enables Sustained Decreases in Glucocorticoid Doses and Improves Clinical Outcomes in Children and Adolescents with Classic Congenital Adrenal Hyperplasia: 2-Year Results from CAHtalyst® Pediatric
  Crinecerfont Improves Cardiometabolic Outcomes in the Context of Sustained Glucocorticoid Dose Reduction: 2-Year Results from the CAHtalyst Adult Study About Congenital Adrenal Hyperplasia
Congenital adrenal hyperplasia (CAH) is a rare genetic condition that results in an enzyme deficiency that alters the production of adrenal steroid hormones, such as cortisol, aldosterone and adrenal androgens. Severe enzyme deficiency leads to an inability of the adrenal glands to produce enough cortisol and, in approximately 75% of cases, aldosterone. Because individuals with CAH are typically still able to produce androgens, the unused precursors that would normally be used to make cortisol instead result in the production of excess amounts of androgens. If left untreated, CAH can result in adrenal crisis and even death.

Exogenous glucocorticoids (GCs) are necessary to correct the endogenous cortisol deficiency, but historically, doses higher than those needed for cortisol replacement (supraphysiologic) have been used to lower the elevated levels of adrenocorticotropic hormone (ACTH) and adrenal androgens. However, GC treatment at supraphysiologic doses has been associated with serious and significant complications of steroid excess, including metabolic issues such as weight gain and diabetes, cardiovascular disease and osteoporosis. Additionally, long-term treatment with supraphysiologic GCs may have psychological and cognitive impacts, such as changes in mood and memory. Adrenal androgen excess has been associated with abnormal bone growth and development in pediatric patients, female health problems such as excess facial hair growth and menstrual irregularities, in addition to cardiometabolic and fertility issues in both sexes. The symptoms of high ACTH may include testicular adrenal rest tumors (TARTs).

About the CAHtalog® Registry
In 2021, the CARES Foundation, Neurocrine Biosciences and PicnicHealth partnered to establish the CAHtalog (Congenital Adrenal Hyperplasia: Patient and Clinical Outcomes in Real-World Practice Settings) Registry. The CAHtalog Registry is a U.S.-based CAH patient registry, or collection of clinical patient data, for patients with CAH due to 21-hydroxylase deficiency. The database was developed to support patient-centered clinical research to enhance the scientific community's foundational knowledge about CAH, and ultimately help patients who live with the condition. Patients consent to the inclusion of their data in the registry with CAH researchers primarily utilizing de-identified data. For more information about the CAHtalog Registry, please visit CAHtalog.com.

About the CAHtalyst® Studies
The Phase 3 CAHtalyst global registrational studies were designed to evaluate the safety, efficacy and tolerability of CRENESSITY® (crinecerfont) in children and adults with classic congenital adrenal hyperplasia (CAH) due to 21-hydroxylase deficiency. The CAHtalyst studies were the largest-ever clinical trial program in classic CAH, including 285 pediatric and adult patients.

The CAHtalyst Pediatric study included 103 pediatric patients four to 17 years of age. The study tested two questions. The first question evaluated whether four weeks of CRENESSITY treatment could improve androgen control. The second question evaluated whether an additional 24 weeks of CRENESSITY treatment enabled customized glucocorticoid (GC) down-titration while androstenedione levels were maintained or improved. 

The CAHtalyst Adult study included 182 adult patients 18 to 58 years of age. Similarly, the first question of the study evaluated whether four weeks of CRENESSITY treatment could improve androgen control, and the second question evaluated whether an additional 20 weeks of CRENESSITY treatment enabled GC reduction to physiologic range while androstenedione levels were maintained or improved.

Data from the CAHtalyst Phase 3 studies supported approval of CRENESSITY by the U.S. Food and Drug Administration in December 2024. The open-label extension treatment portions of both studies are ongoing.

About CRENESSITY® (crinecerfont)
CRENESSITY is a potent and selective oral corticotropin-releasing factor type 1 receptor (CRF1) antagonist that reduces and controls excess adrenocorticotropic hormone (ACTH) and adrenal androgens through a non-glucocorticoid (GC) mechanism for the treatment of classic congenital adrenal hyperplasia (CAH). Antagonism of CRF1 receptors in the pituitary has been shown to decrease ACTH levels, which in turn decreases the production of adrenal androgens and potentially the symptoms associated with CAH. The robust clinical study data demonstrate that lowering adrenal androgen levels with CRENESSITY enables lower, more physiologic dosing of GCs to replace missing cortisol.

CRENESSITY comes in capsules and an oral solution. For adults 18 years of age and older, the recommended dosage is 100 mg twice daily taken orally with a meal. For pediatric patients 4 to 17 years of age weighing less than 55 kg (121 lbs), the recommended dosage is based on body weight and is administered twice daily, taken orally with a meal. For pediatric patients weighing more than 55 kg (121 lbs), the recommended dosage is 100 mg twice daily taken orally with a meal. Healthcare providers can work with patients to determine the appropriate formulation for use depending on patient needs. Patients receiving CRENESSITY should continue GC therapy for cortisol replacement. 

Important Information

Approved Uses
CRENESSITY® (crinecerfont) is a prescription medicine used together with glucocorticoids (steroids) to control androgen (testosterone-like hormone) levels in adults and children 4 years of age and older with classic congenital adrenal hyperplasia (CAH).

IMPORTANT SAFETY INFORMATION

Do not take CRENESSITY if you:

Are allergic to crinecerfont, or any of the ingredients in CRENESSITY.

CRENESSITY may cause serious side effects, including: 

Allergic reactions. Symptoms of an allergic reaction include tightness of the throat, trouble breathing or swallowing, swelling of the lips, tongue, or face, and rash. If you have an allergic reaction to CRENESSITY, get emergency medical help right away and stop taking CRENESSITY.

Risk of Sudden Adrenal Insufficiency or Adrenal Crisis with Too Little Glucocorticoid (Steroid) Medicine. Sudden adrenal insufficiency or adrenal crisis can happen in people with congenital adrenal hyperplasia who are not taking enough glucocorticoid (steroid) medicine. You should continue taking your glucocorticoid (steroid) medicine during treatment with CRENESSITY. Certain conditions such as infection, severe injury, or shock may increase your risk for sudden adrenal insufficiency or adrenal crisis. Tell your healthcare provider if you get a severe injury, infection, illness, or have planned surgery during treatment. Your healthcare provider may need to change your dose of glucocorticoid (steroid) medicine.

Before taking CRENESSITY, tell your healthcare provider about all of your medical conditions, including if you: are pregnant or plan to become pregnant, or are breastfeeding or plan to breastfeed.

Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements.

The most common side effects of CRENESSITY in adults include tiredness, headache, dizziness, joint pain, back pain, decreased appetite, and muscle pain.

The most common side effects of CRENESSITY in children include headache, stomach pain, tiredness, nasal congestion, and nosebleeds.

These are not all the possible side effects of CRENESSITY. Call your healthcare provider for medical advice about side effects. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit MedWatch at www.fda.gov/medwatch or call 1-800-FDA-1088.

Dosage Forms and Strengths: CRENESSITY is available in 50 mg and 100 mg capsules, and as an oral solution of 50 mg/mL.

Please see full Prescribing Information. 

About Neurocrine Biosciences, Inc.

Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)

The NEUROCRINE BIOSCIENCES Logo, NEUROCRINE, YOU DESERVE BRAVE SCIENCE, CRENESSITY and CAHtalog are registered trademarks of Neurocrine Biosciences, Inc.

Forward-Looking Statements 
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the interpretation and potential relevance of the data described in this press release, including the extent to which patient journey mapping may help healthcare professionals anticipate evolving needs among patients with classic congenital adrenal hyperplasia (CAH) and inform education, patient support and coordination across care teams; the potential benefits to be derived from CRENESSITY for the treatment of CAH; and the value and benefits CRENESSITY brings to patients with CAH. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: risks and uncertainties as to whether the data described in this press release, which are based on records from a limited number of patients, are representative of the broader CAH patient population and whether patient journey mapping will help healthcare professionals anticipate evolving patient needs and inform education, patient support and coordination across care teams; risks and uncertainties associated with Neurocrine Biosciences' business and finances in general, as well as risks and uncertainties associated with the commercialization of CRENESSITY, including the extent to which patients and physicians accept and adopt CRENESSITY; whether CRENESSITY receives adequate reimbursement from third-party payors; risks and uncertainties relating to competitive products and technological changes that may limit demand for CRENESSITY; risks associated with the Company's dependence on third parties for development and manufacturing activities related to CRENESSITY, and the ability of the Company to manage these third parties; risks that additional regulatory submissions for CRENESSITY may not occur or be submitted in a timely manner; risks that the FDA or other regulatory authorities may make adverse decisions regarding CRENESSITY; risks that post-approval CRENESSITY commitments or requirements may be delayed; risks that CRENESSITY may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and other risks described in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than required by law. 

© 2026 Neurocrine Biosciences, Inc. All Rights Reserved. CAP-CFT-US-0071 10/2026 

SOURCE Neurocrine Biosciences, Inc.

Investors interested in stocks from the Medical - Drugs sector have probably already heard of Neurocrine Biosciences (NBIX - Free Report) and Sandoz Group AG Sponsored ADR (SDZNY - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Right now, both Neurocrine Biosciences and Sandoz Group AG Sponsored ADR are sporting a Zacks Rank of #2 (Buy). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. However, value investors will care about much more than just this.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

NBIX currently has a forward P/E ratio of 15.55, while SDZNY has a forward P/E of 20.49. We also note that NBIX has a PEG ratio of 0.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. SDZNY currently has a PEG ratio of 1.69.

Another notable valuation metric for NBIX is its P/B ratio of 3.89. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, SDZNY has a P/B of 3.98.

These are just a few of the metrics contributing to NBIX's Value grade of B and SDZNY's Value grade of C.

Both NBIX and SDZNY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that NBIX is the superior value option right now.

Amneal Pharmaceuticals (NASDAQ:AMRX – Get Free Report) and Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) are both healthcare companies, but which is the superior investment? We will contrast the two businesses based on the strength of their dividends, risk, analyst recommendations, earnings, profitability, institutional ownership and valuation.

Analyst Ratings
This is a breakdown of recent recommendations for Amneal Pharmaceuticals and Neurocrine Biosciences, as reported by MarketBeat.

Sell Ratings
Hold Ratings
Buy Ratings
Strong Buy Ratings
Rating Score

Amneal Pharmaceuticals
1
0
9
0
2.80

Neurocrine Biosciences
0
5
18
1
2.83

Amneal Pharmaceuticals currently has a consensus target price of $21.00, indicating a potential upside of 4.84%. Neurocrine Biosciences has a consensus target price of $201.14, indicating a potential upside of 42.28%. Given Neurocrine Biosciences’ stronger consensus rating and higher possible upside, analysts plainly believe Neurocrine Biosciences is more favorable than Amneal Pharmaceuticals.

Volatility and Risk
Amneal Pharmaceuticals has a beta of 1.22, meaning that its share price is 22% more volatile than the S&P 500. Comparatively, Neurocrine Biosciences has a beta of 0.4, meaning that its share price is 60% less volatile than the S&P 500.
Earnings & Valuation
This table compares Amneal Pharmaceuticals and Neurocrine Biosciences”s gross revenue, earnings per share and valuation.

Gross Revenue
Price/Sales Ratio
Net Income
Earnings Per Share
Price/Earnings Ratio

Amneal Pharmaceuticals
$3.02 billion
2.12
$72.06 million
$0.49
40.88

Neurocrine Biosciences
$3.37 billion
4.26
$478.60 million
$6.82
20.73

Neurocrine Biosciences has higher revenue and earnings than Amneal Pharmaceuticals. Neurocrine Biosciences is trading at a lower price-to-earnings ratio than Amneal Pharmaceuticals, indicating that it is currently the more affordable of the two stocks.

Profitability
This table compares Amneal Pharmaceuticals and Neurocrine Biosciences’ net margins, return on equity and return on assets.

Net Margins
Return on Equity
Return on Assets

Amneal Pharmaceuticals
5.05%
-584.46%
7.78%

Neurocrine Biosciences
20.91%
22.43%
15.64%

Insider & Institutional Ownership
31.8% of Amneal Pharmaceuticals shares are held by institutional investors. Comparatively, 92.6% of Neurocrine Biosciences shares are held by institutional investors. 17.3% of Amneal Pharmaceuticals shares are held by company insiders. Comparatively, 4.6% of Neurocrine Biosciences shares are held by company insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock is poised for long-term growth.

Summary
Neurocrine Biosciences beats Amneal Pharmaceuticals on 12 of the 15 factors compared between the two stocks.

(Get Free Report)

Amneal Pharmaceuticals, Inc., together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products. The Specialty segment develops, promotes, sells, and distributes pharmaceutical products with focus on central nervous system disorders, including Parkinson's disease, and endocrine disorders. This segment also provides Rytary, an oral capsule formulation of carbidopa-levodopa to treat Parkinson's disease, post-encephalitic parkinsonism, and parkinsonism; Unithroid for the treatment of hypothyroidism; and IPX203, a pipeline product for Parkinson's disease. The AvKARE segment offers pharmaceuticals, medical and surgical products, and services primarily to governmental agencies, the Department of Defense, and the Department of Veterans Affairs. This segment also distributes bottle and unit dose pharmaceuticals under the AvKARE and AvPAK names; and packages and distributes pharmaceuticals and vitamins to its retail and institutional customers. It sells its products through wholesalers, distributors, hospitals, chain pharmacies, and individual pharmacies. The company was formerly known as Atlas Holdings, Inc. and changed its name to Amneal Pharmaceuticals, Inc. in 2018. Amneal Pharmaceuticals, Inc. was founded in 2002 and is headquartered in Bridgewater, New Jersey.

About Neurocrine Biosciences
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Neurocrine Biosciences, Inc. discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids. Its product candidates in clinical development include valbenazine to treat dyskinetic cerebral palsy in pediatrics and adults; NBI-921352 to treat developmental and epileptic encephalopathy syndrome in pediatrics and adults; NBI-827104 to treat epileptic encephalopathy with continuous spike-and-wave during sleep; NBI-1076986 to treat movement disorders; crinecerfront to treat congenital adrenal hyperplasia in adults and children; EFMODY to treat congenital adrenal hyperplasia and adrenal insufficiency in adults; valbenazine for the adjunctive treatment of schizophrenia; NBI-1065845 for the treatment of inadequate response to treatment in major depressive disorder; luvadaxistat to treat cognitive impairment related to schizophrenia; NBI-1117568 for the treatment of schizophrenia; NBI-1070770 to treat major depressive disorder; NBI-1117570 for the treatment of symptoms of psychosis and cognition in neurological and neuropsychiatric conditions; and NBI-1117569, NBI-1117567, and NBI-1065890 to treat CNS indications. The company also 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. The company was incorporated in 1992 and is headquartered in San Diego, California.

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PWS-VISTA observational study will build longitudinal real-world evidence on VYKAT XR use for hyperphagia in Prader-Willi syndrome in routine clinical practice BRAVE-PWS observational study will capture caregiver-reported information to better understand the experience and burden of caring for someone with Prader-Willi syndrome Integrated analysis will further evaluate adverse events of special interest — including fluid retention, hyperglycemia, hirsutism and hypertrichosis — during VYKAT XR treatment , /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced research advancing understanding of Prader-Willi syndrome and expanding clinical and real-world evidence for VYKAT® XR (diazoxide choline) extended-release tablets will be presented at the Foundation for Prader-Willi Research (FPWR) 2026 Annual Research Symposium & Family Conference, taking place Oct. 7-10 in Philadelphia.

The research reflects Neurocrine's continued commitment to ongoing education of Prader-Willi syndrome (PWS) and VYKAT XR — the first and only FDA-approved treatment for hyperphagia in people aged 4 years and older living with PWS — through clinical and real-world evidence. It includes:

PWS-VISTA, an ongoing observational study designed to build longitudinal real-world evidence on VYKAT XR use in routine clinical practice, including long-term safety and treatment outcomes. Neurocrine will present baseline demographic and clinical characteristics of PWS patients initiating VYKAT XR. BRAVE-PWS, designed with caregiver and clinician input, is an ongoing observational study intended to capture caregiver-reported information to better understand the experience and burden of caring for someone with PWS. Additional research will examine the timing and occurrence of adverse events of special interest during VYKAT XR treatment, including fluid retention, hyperglycemia, hirsutism and hypertrichosis. "Prader-Willi syndrome is a complex, rare condition that profoundly affects individuals and their families, and continued research is essential to deepening our understanding of PWS and the needs of the community," said Eiry W. Roberts, M.D., Chief Medical Officer, Neurocrine Biosciences. "The breadth of research we are presenting at the FPWR Research Symposium & Family Conference reflects our long-term commitment to individuals living with PWS, caregivers, healthcare providers, researchers and the broader PWS community. These findings can help inform how we apply our scientific and clinical expertise to areas of great unmet need."

Neurocrine will share the following oral presentation and posters at the FPWR 2026 Annual Research Symposium & Family Conference. All times are in Eastern time.

Title: Real-World Assessment of GLP-1 Receptor Agonist Utilization and Risk of Gastrointestinal Complications in Prader-Willi Syndrome
Presenting Author: Shawn McCandless, M.D.
Date/Time: Oct. 8, from 9:30 to 9:50 a.m.

Title: Real-World Demographics and Clinical Characteristics of Patients with Prader-Willi Syndrome Initiating VYKAT XR (Diazoxide Choline) Extended-Release Tablets: Baseline Results from the PWS-VISTA Observational Study (Poster Presentation #6)
Presenting Author: Julie Perry, M.D.
Date/Time: Oct. 7, from 5 to 7 p.m.

Title: BRAVE-PWS: Burden and Real-World Assessment of Caregiver Voice and Experiences in Prader-Willi Syndrome—Study Design of an Observational, App-Based Health-Tracking Cohort Study (Poster Presentation #8)
Presenting Author: Christopher Joshi, M.D., MPH
Date/Time: Oct. 7, from 5 to 7 p.m.

Title: Integrated Exposure-Adjusted Analysis of Adverse Events of Special Interest During Diazoxide Choline Treatment for Prader-Willi Syndrome (Poster Presentation #15)
Presenting Author: Sheri Leung, Pharm.D.
Date/Time: Oct. 7, from 5 to 7 p.m.

Title: Mortality Among Patients with Prader-Willi Syndrome (MAP-PWS): An Analysis of Healthcare Utilization in the Year Prior to Death Within a Single U.S. Payer (Poster Presentation #16)
Presenting Author: Raj Gandhi, Pharm.D., MBA
Date/Time: Oct. 7, from 5 to 7 p.m.

Title: Long-Term Reductions of Hyperphagia with Diazoxide Choline Extended-Release (DCCR) in Participants with Prader-Willi Syndrome (Poster Presentation #12)
Presenting Author: Evelien F. Gevers, M.D., Ph.D., FRCPCH
Date/Time: Oct. 7, from 5 to 7 p.m.

Title: Efficacy and Safety of Resuming Diazoxide Choline Extended-Release (DCCR) after 16-week Randomized Withdrawal in Prader-Willi Syndrome (PWS) (Study C614) (Poster Presentation #14)
Presenting Author: Evelien F. Gevers, M.D., Ph.D., FRCPCH
Date/Time: Oct. 7, from 5 to 7 p.m.

Title: Impact of Long-Term Diazoxide Choline Extended-Release (DCCR) Treatment and the Prader-Willi Syndrome Profile Questionnaire (PWSP) (Poster Presentation #13)
Presenting Author: Evelien F. Gevers, M.D., Ph.D., FRCPCH
Date/Time: Oct. 7, from 5 to 7 p.m.

About Prader-Willi Syndrome

Prader-Willi syndrome (PWS) is a rare genetic neurodevelopmental disorder caused by an abnormality of chromosome 15 gene expression. The Prader-Willi Syndrome Association USA estimates that PWS occurs in one in every 15,000 live births. The defining symptom of PWS is hyperphagia, a chronic and life-threatening condition neurologically driven by an intense, persistent sensation of hunger and characterized by food preoccupations, an extreme drive to consume food, food-related behavior problems and a lack of normal satiety, which can severely diminish the quality of life for individuals with PWS and their families.

Hyperphagia can lead to significant mortality (e.g., stomach rupture, choking, accidental death due to food-seeking behavior) and longer-term co-morbidities such as diabetes, obesity and cardiovascular disease.

About VYKAT® XR (diazoxide choline) Extended-Release Tablets
VYKAT XR was approved by the U.S. Food and Drug Administration (FDA) on March 26, 2025, and is now commercially available to U.S. patients.

VYKAT XR is indicated for the treatment of hyperphagia in adults and pediatric patients 4 years of age and older with Prader-Willi syndrome (PWS).

IMPORTANT SAFETY INFORMATION

Contraindications
Use of VYKAT XR is contraindicated in patients who have a known hypersensitivity to diazoxide, other components of VYKAT XR, or to thiazides.

Warnings and Precautions

Hyperglycemia
Hyperglycemia, including diabetic ketoacidosis, has been reported. Before initiating VYKAT XR, test fasting plasma glucose (FPG) and HbA1c; optimize blood glucose in patients who have hyperglycemia. During treatment, regularly monitor fasting glucose (FPG or fasting blood glucose) and HbA1c. Monitor fasting glucose more frequently during the first few weeks of treatment in patients with risk factors for hyperglycemia.

Risk of Fluid Overload
Edema, including severe reactions associated with fluid overload, has been reported. Monitor for signs or symptoms of edema or fluid overload. VYKAT XR has not been studied in patients with compromised cardiac reserve and should be used with caution in these patients.

Adverse Reactions
The most common adverse reactions (incidence ≥10% and at least 2% greater than placebo) included hypertrichosis, edema, hyperglycemia and rash.

Please see the full Prescribing Information, including Medication Guide.

About Neurocrine Biosciences, Inc.
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie) 

The NEUROCRINE BIOSCIENCES Logo, NEUROCRINE and YOU DESERVE BRAVE SCIENCE are registered trademarks of Neurocrine Biosciences, Inc. SOLENO and VYKAT are registered trademarks of Soleno Therapeutics, Inc.

Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the potential benefits to be derived from VYKAT XR for the treatment of Prader-Willi syndrome (PWS); the value and benefits VYKAT XR brings to patients with PWS; and the Company's plans to advance understanding of PWS and expand clinical and real-world evidence regarding VYKAT XR through the studies and analyses described in this press release. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: risks and uncertainties as to whether the Company can successfully conduct the studies and analyses described in this press release and whether such research will advance understanding of PWS and expand clinical and real-world evidence regarding VYKAT XR; risks and uncertainties associated with our business and finances in general, as well as risks and uncertainties associated with the commercialization of VYKAT XR, including the extent to which patients and physicians accept and adopt VYKAT XR; whether VYKAT XR receives adequate coverage and reimbursement from third-party payors; risks and uncertainties relating to competitive products and technological changes that may limit demand for VYKAT XR; risks associated with dependence on third parties for development and manufacturing activities related to VYKAT XR, and risks associated with managing these third parties; risks that additional regulatory submissions for VYKAT XR may not occur or be submitted in a timely manner; risks that the FDA or other regulatory authorities may make adverse decisions regarding VYKAT XR; risks that post-approval commitments or requirements for VYKAT XR may be delayed; risks that VYKAT XR may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and other risks described in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof except as required by law.

© 2026 Neurocrine Biosciences, Inc. All Rights Reserved. CAP-NBI-US-0269 09/2026 

SOURCE Neurocrine Biosciences, Inc.

3 Biotech Stocks to Watch: Iovance, Neurocrine & VikingNeurocrine Biosciences NASDAQ: NBIX outlined its commercial growth priorities, pricing considerations and pipeline plans during a Morgan Stanley discussion, with CEO Kyle Gano emphasizing the company’s efforts to diversify beyond its largest product, INGREZZA.

Gano said China has become both a competitive force and an increasingly important source of biotech innovation. He said the speed, quality and breadth of science in the region have improved over the past decade, particularly in validated biology. Neurocrine has brought in primarily earlier-stage Chinese assets in recent years, he said.

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Bristol Myers Squibb’s big buys: $18.1 billion in 2 biotech dealsWhile China has not changed Neurocrine’s overall balance between internal research and development and business development, Gano said it has increased the importance of speed and selectivity. Companies must develop efficient plans that can reach the market early while demonstrating differentiation throughout development, he said. Neurocrine may also use the Chinese ecosystem to accelerate development through contract research arrangements or collaborations in which Chinese partners advance programs through early clinical stages.

AI Adoption Focused on Productivity Gano said Neurocrine has made artificial intelligence and machine learning a corporate priority and has deployed OpenAI and Anthropic’s Claude tools across the organization. He differentiated near-term productivity opportunities from longer-term expectations that AI could materially improve research-and-development success rates.

Is Mid-Cap Neurocrine Biosciences A Buy After Blowout Q3 Report?According to Gano, employees are using the tools to accelerate workflows, analyze large data sets, reduce repetitive tasks and improve access to information across teams. He cited applications in medicinal chemistry, chemical development, translational science, clinical development and clinical-trial execution.

The company plans to assess AI through measurable outcomes, including whether it can speed decisions, reduce costs, improve clinical-trial enrollment and allow Neurocrine to advance more science without proportionately increasing headcount. Gano said AI’s ability to improve probabilities of technical success remains an earlier-stage opportunity, especially because novel biology often lacks the data needed to generate reliable machine-learning outputs.

INGREZZA Pricing and 2029 Medicare Exposure Gano identified Medicare drug-price negotiations as the policy issue most directly affecting Neurocrine. INGREZZA’s maximum fair price is scheduled to be implemented in 2029, while a competing product in the same two-product category will face its negotiated price two years earlier.

Neurocrine has guided 2026 INGREZZA revenue of $2.825 billion to $2.875 billion. Gano said the product’s market continues to grow at a double-digit rate annually and the company has patent protection through 2038. He also pointed to data supporting INGREZZA, including quality-of-life results, remission data showing that 60% of patients on the therapy are symptom-free, and PET data that he said showed target occupancy superior to its competitor.

The company previously expected a 4% to 5% year-over-year net-price decline for INGREZZA, which Gano attributed to contracting completed last year. He said revenue per prescription has remained relatively consistent during the current year. For 2027, Neurocrine expects nominal price concessions to preserve access as its competitor enters the first year of its maximum fair price. The company will also face an increase in the statutory Medicare Part D catastrophic-phase rebate to 5% from 2%.

Gano said INGREZZA should continue generating revenue and volume growth in 2027 and 2028, supported by double-digit volume growth and an estimated 10% penetration of roughly 100,000 patients under the care of a VMAT2 inhibitor. In 2029, however, he said Neurocrine expects INGREZZA revenue to decline after its maximum fair price takes effect. The product’s negotiated discount is expected to fall within a roughly 25% to 34% range from the relevant non-FAMP calculation, he said.

Whether companywide revenue grows through that period will depend in part on CRENESSITY and VYKAT XR, Gano said. He also cited potential future contributions from osavampator and direclidine, as well as Neurocrine’s ability to pursue external business-development opportunities.

CRENESSITY Expansion and VYKAT XR Education CRENESSITY, Neurocrine’s treatment for congenital adrenal hyperplasia, has reached an annualized revenue run rate of about $750 million, Gano said. Todd Tushla, vice president of investor relations, said the launch is only six quarters old and that the company is continuing to learn about the market before providing revenue guidance. He said Neurocrine may revisit the topic ahead of its fourth-quarter call next year.

Tushla said growth is expected to come from both adding prescribers and increasing the number of patients treated per prescriber. The company is seeing use across centers of excellence, pediatric endocrinologists and community endocrinologists. Neurocrine estimates that about one-third of the patient population is pediatric, and a Phase II study in children ages three months to under four years is expected to produce data in 2028.

For VYKAT XR in Prader-Willi syndrome, Gano acknowledged concerns raised in an August statement regarding deaths and adverse events. He said the disease is serious and complex, with multiple comorbidities, higher mortality than the general population and life expectancy cited in the mid-to-late 40s based on published literature.

Gano said Neurocrine has more than 1,400 patient-years of VYKAT XR experience, including patients treated for more than seven years. He said the company’s priority is educating physicians and families on identifying appropriate patients and managing adverse events. VYKAT XR has about a $400 million annualized run rate, according to Gano.

The company has observed a 20% to 25% discontinuation rate over approximately one year of data and views a 25% to 30% steady-state range as appropriate, Gano said. New patient starts and enrollment forms have remained relatively steady in recent quarters.

Pipeline Programs Target Depression, Psychiatry and Obesity Gano said Neurocrine’s direclidine program is being developed in schizophrenia and bipolar mania, reflecting the need for antipsychotic medicines to expand beyond schizophrenia to build larger commercial opportunities. He said the company views the launch trajectory of COBENFY as broadly consistent with other antipsychotics, but noted that expansion into additional indications is important for long-term revenue potential.

For osavampator, Gano highlighted differentiation from esketamine through its oral tablet formulation, at-home administration, lack of monitoring requirements and favorable safety and tolerability profile. The company has three ongoing replicate Phase III trials, each enrolling 200 subjects and comparing a 1-milligram dose with placebo. If enrollment proceeds as planned, Neurocrine expects Phase III data in the second half of next year, a potential NDA submission in 2028 and a possible launch in 2029 if results are positive.

Gano also discussed Neurocrine’s once-weekly CRF2 agonist, 2118, in obesity. The company completed Phase I in May and expects signal-seeking work next year. He said preclinical diet-induced-obesity mouse data showed weight loss comparable to incretins, with weight loss occurring on the fat side rather than muscle, along with cardiac and renal benefits. Because the approach does not use the GLP pathway, Gano said Neurocrine does not expect nausea and vomiting associated with current GLP-based treatments.

About Neurocrine Biosciences (NASDAQ:NBIX)Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington's disease.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Corient Private Wealth LP increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,680 shares of the company’s stock after purchasing an additional 9,645 shares during the period. Corient Private Wealth LP owned approximately 0.05% of Neurocrine Biosciences worth $9,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Amundi raised its position in shares of Neurocrine Biosciences by 8.3% in the 2nd quarter. Amundi now owns 220,463 shares of the company’s stock valued at $37,156,000 after buying an additional 16,826 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at approximately $41,447,000. Nilsine Partners LLC raised its position in Neurocrine Biosciences by 3.6% during the 2nd quarter. Nilsine Partners LLC now owns 10,013 shares of the company’s stock worth $1,688,000 after purchasing an additional 348 shares during the last quarter. Saudi Central Bank raised its position in shares of Neurocrine Biosciences by 81.4% during the second quarter. Saudi Central Bank now owns 6,674 shares of the company’s stock worth $1,125,000 after acquiring an additional 2,994 shares during the last quarter. Finally, BAM Wealth Management LLC raised its holdings in Neurocrine Biosciences by 8.9% during the 2nd quarter. BAM Wealth Management LLC now owns 2,598 shares of the company’s stock worth $438,000 after purchasing an additional 213 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity In other news, CFO Matt Abernethy sold 2,311 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.20, for a total transaction of $363,289.20. Following the completion of the transaction, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at $6,729,417.60. The trade was a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David W. Boyer sold 826 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the sale, the insider owned 8,722 shares of the company’s stock, valued at approximately $1,373,278.90. This represents a 8.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 43,325 shares of company stock valued at $7,611,976. 4.60% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Down 0.3% Shares of NASDAQ:NBIX opened at $149.50 on Thursday. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12. The company’s fifty day moving average is $163.00 and its 200 day moving average is $151.87. The stock has a market cap of $15.20 billion, a PE ratio of 21.92, a PEG ratio of 0.70 and a beta of 0.38. Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company’s revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Wall Street Analyst Weigh In NBIX has been the topic of a number of research analyst reports. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target on the stock. Citigroup boosted their price objective on Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Canaccord Genuity Group increased their target price on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Needham & Company LLC increased their price target on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Wedbush lifted their price objective on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.09.

Check Out Our Latest Analysis on Neurocrine Biosciences

(Free Report)

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.

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Engineers Gate Manager LP raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 64.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,361 shares of the company’s stock after purchasing an additional 7,163 shares during the period. Engineers Gate Manager LP’s holdings in Neurocrine Biosciences were worth $3,094,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of Neurocrine Biosciences by 17,426.3% during the second quarter. California State Teachers Retirement System now owns 23,247,381 shares of the company’s stock valued at $3,918,114,000 after acquiring an additional 23,114,738 shares in the last quarter. BlackRock Inc. bought a new stake in Neurocrine Biosciences in the second quarter valued at $2,310,886,000. AQR Capital Management LLC increased its position in Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after purchasing an additional 1,263,633 shares during the period. Norges Bank purchased a new position in Neurocrine Biosciences during the 4th quarter valued at $162,664,000. Finally, Bank of New York Mellon Corp bought a new position in Neurocrine Biosciences in the 2nd quarter worth $117,827,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth Several equities research analysts have recently commented on NBIX shares. Weiss Ratings cut shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 8th. Piper Sandler boosted their price target on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Cantor Fitzgerald increased their price target on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Wells Fargo & Company raised their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.09.

Read Our Latest Research Report on NBIX Neurocrine Biosciences Price Performance Neurocrine Biosciences stock opened at $156.22 on Monday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The company has a market capitalization of $15.88 billion, a P/E ratio of 22.91, a PEG ratio of 0.73 and a beta of 0.38. The stock’s 50 day moving average is $164.46 and its 200 day moving average is $151.42.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter in the previous year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Insider Activity In other Neurocrine Biosciences news, insider Ingrid Delaet sold 8,433 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $178.72, for a total transaction of $1,507,145.76. Following the completion of the sale, the insider directly owned 16,225 shares in the company, valued at approximately $2,899,732. This trade represents a 34.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares of the company’s stock, valued at $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,188 shares of company stock worth $7,118,633 over the last three months. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Company Profile (Free Report)

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.

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Neurocrine Biosciences, Inc. (NBIX) Presents at 12th Annual Cantor Fitzgerald Global Healthcare Conference Transcript

Continuum Advisory LLC decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 99.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 418 shares of the company’s stock after selling 43,650 shares during the period. Continuum Advisory LLC’s holdings in Neurocrine Biosciences were worth $70,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Neurocrine Biosciences by 10.6% during the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock worth $76,913,000 after purchasing an additional 55,723 shares during the period. ABN AMRO Bank N.V. acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth $2,510,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $1,866,000. Cetera Investment Advisers boosted its holdings in Neurocrine Biosciences by 50.1% in the first quarter. Cetera Investment Advisers now owns 20,245 shares of the company’s stock valued at $2,667,000 after acquiring an additional 6,756 shares during the last quarter. Finally, SEB Asset Management AB purchased a new stake in Neurocrine Biosciences during the first quarter valued at about $10,483,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance NASDAQ:NBIX opened at $155.64 on Tuesday. The firm has a 50-day moving average of $165.70 and a two-hundred day moving average of $150.66. The stock has a market cap of $15.82 billion, a P/E ratio of 22.82, a PEG ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same period in the previous year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year. Insider Buying and Selling at Neurocrine Biosciences In related news, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the sale, the insider directly owned 54,729 shares of the company’s stock, valued at $9,829,328.40. This represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie Norwalk sold 1,250 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the transaction, the director owned 1,588 shares in the company, valued at $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 40,188 shares of company stock valued at $7,118,633 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In Several research firms have recently weighed in on NBIX. Cantor Fitzgerald lifted their price objective on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Zacks Research cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Guggenheim increased their price objective on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Truist Financial raised their price objective on Neurocrine Biosciences from $200.00 to $213.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, TD Cowen boosted their price objective on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.05.

Check Out Our Latest Report on Neurocrine Biosciences

Neurocrine Biosciences Company Profile (Free Report)

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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Key Takeaways Crenessity sales hit $337 million in the first half of 2026, up roughly 400% year over year.About 15% of diagnosed classic CAH patients have been prescribed Crenessity, leaving room to expand.Vertex's planned $10 billion Crinetics deal could strengthen a key rival currently advancing phase III. Neurocrine Biosciences (NBIX - Free Report) continues to rely heavily on its blockbuster VMAT2 inhibitor, Ingrezza, for top-line growth. Still, the company is making meaningful progress beyond the drug as Crenessity gains traction in classic congenital adrenal hyperplasia (CAH), a rare genetic condition involving the adrenal glands.

Launched in December 2024, Crenessity is an oral therapy designed to reduce excessive adrenal androgen production and, in turn, help lower the amount of glucocorticoid (steroid) treatment needed. The drug is emerging as an increasingly important contributor to Neurocrine's commercial portfolio.

Crenessity generated $337 million in sales during the first half of 2026, up roughly 400% year over year and surpassing the $301 million generated in 2025. The strong performance was supported by growing adoption among adult and pediatric patients, with Neurocrine's prescriber base nearly tripling from a year ago. The rapid uptake highlights the drug's increasing contribution to Neurocrine's revenue base and its potential to become a meaningful growth driver alongside Ingrezza.

Neurocrine has not yet provided sales guidance for Crenessity, as the launch remains relatively early and the company continues to learn more about the market and the drug's growth trajectory. About 15% of the estimated diagnosed classic CAH population has now been prescribed the drug, while Neurocrine estimates that at least 20,000 people in the United States have classic CAH. This low penetration leaves substantial room for further adoption and sales expansion. Meanwhile, reimbursement for dispensed prescriptions was approximately 80% in the second quarter, and Neurocrine continues to broaden its reach among pediatric and adult endocrinologists and Centers of Excellence.

Competition Could Pose a Concern for NBIX Over TimeCrenessity's growing presence in the CAH market could face increasing competition from Crinetics Pharmaceuticals’ (CRNX - Free Report) atumelnant, a once-daily oral ACTH receptor antagonist. The drug is currently being evaluated in a phase III study for classic CAH. The competitive threat is becoming more notable following Vertex Pharmaceuticals' (VRTX - Free Report) agreement to acquire CRNX for $10 billion. Announced last month, the deal would bring atumelnant into Vertex's portfolio, providing the candidate with the resources of a larger pharmaceutical company as it advances through late-stage development. The transaction is expected to close in the third quarter of 2026.

Other companies, including Lundbeck Pharmaceuticals and OMass Therapeutics, are also developing potential CAH therapies, though their programs are at earlier stages of development.

NBIX’s Price Performance, Valuation & EstimatesShares of Neurocrine Biosciences have outperformed the industry year to date, as seen in the chart below.

Image Source: Zacks Investment Research

The company is currently trading at a premium to the industry. Based on the price-to-sales (P/S) ratio, the stock trades at 3.64 times forward 12-month sales, above the industry average of 2.04 times.

Image Source: Zacks Investment Research

Estimate revisions for Neurocrine Biosciences’ 2026 and 2027 EPS have been mixed over the past 30 days.

Image Source: Zacks Investment Research

Neurocrine currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Allworth Financial LP purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,853 shares of the company’s stock, valued at approximately $2,503,000.

A number of other hedge funds have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG bought a new position in Neurocrine Biosciences in the second quarter valued at about $1,009,000. TrinityBridge Ltd bought a new position in shares of Neurocrine Biosciences in the second quarter worth about $45,000. Virtus Advisers LLC acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $457,000. Silvant Capital Management LLC acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $3,490,000. Finally, Advisors Preferred LLC acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $5,415,000. 92.59% of the stock is owned by institutional investors.

Insider Activity In related news, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the transaction, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. The trade was a 15.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 131,524 shares of company stock valued at $21,668,924. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance Shares of NBIX opened at $152.57 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The company has a market capitalization of $15.51 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39. The business has a 50-day moving average of $167.14 and a 200-day moving average of $148.88. Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same period in the previous year, the firm earned $1.65 earnings per share. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Wall Street Analysts Forecast Growth NBIX has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price objective on shares of Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Wedbush raised their target price on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, TD Cowen increased their price target on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.86.

Check Out Our Latest Stock Analysis on NBIX

(Free Report)

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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Key Takeaways Neurocrine's revenue rose 39% in Q2, while adjusted EPS jumped 73%, beating consensus estimates.Crenessity sales surged about 400%, while Vykat XR adds another rare-disease growth pillar.NBIX trades at a premium sales multiple, with Ingrezza dependence and pipeline risks warranting caution. Neurocrine Biosciences, Inc. (NBIX - Free Report) is pairing rapid earnings and revenue growth with a broader rare-disease portfolio. That operating momentum gives investors a clear fundamental reason to watch the stock.

The trade-off is valuation and execution. NBIX sells at a premium to its sub-industry and the Medical sector on forward sales, while product concentration, competition and pipeline risk argue for a measured view.

NBIX Growth Still Looks StrongSecond-quarter 2026 revenues rose 39% year over year to $959 million, while adjusted earnings advanced 73% to $2.85 per share. The results beat the Zacks Consensus Estimate for earnings of $2.26 per share and for revenues of $901.5 million.

The growth outlook remains elevated. Projected 2026 sales growth is 35.8%, while projected EPS growth is 41.9%. Ingrezza remains the main engine, with first-half 2026 sales up 17% to $1.4 billion and full-year guidance raised to $2.825-$2.875 billion.

Neurocrine Diversifies Beyond IngrezzaCrenessity is becoming a meaningful second growth pillar. First-half 2026 sales reached $337 million, up about 400% year over year and already above the $301 million generated in all of 2025.

Vykat XR adds another rare-disease asset following the Soleno Therapeutics acquisition. It contributed $54 million from May 18 through the end of the second quarter. Management expects launch-related discontinuation effects to largely work through during the third quarter, with sequential sales growth anticipated from the fourth quarter onward.

NBIX Valuation Demands a Closer LookNBIX trades at a forward 12-month price-to-sales ratio of 3.69, versus 2.02 for its sub-industry and 2.23 for the Medical sector. That premium means investors are already paying for faster growth and successful diversification.

The stock still trades below its five-year median forward sales multiple of 5.18. A forward price-to-earnings ratio of 17.15 and PEG ratio of 0.56 make the valuation picture less one-dimensional, but they do not remove the need for continued execution.

Neurocrine Still Faces Execution RisksIngrezza remains the dominant revenue contributor and is exposed to pricing, formulary and policy pressure. Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) markets Austedo and Austedo XR for tardive dyskinesia and chorea associated with Huntington's disease, directly overlapping with Ingrezza's approved markets. A lower negotiated Medicare price for Austedo beginning in 2027 could add pressure on Ingrezza.

Vykat XR also carries retention risk, with management expecting a long-term discontinuation rate of 25-30%. Pipeline execution is another concern after recent clinical setbacks. Bristol Myers Squibb Company (BMY - Free Report) markets Cobenfy for schizophrenia, adding a newer competitor in a market where Neurocrine is advancing phase III candidate direclidine.

NBIX's Mixed Signals Support a Measured ViewFor investors weighing buy, hold or wait, NBIX presents a mixed setup. Growth, diversification and a debt-free balance sheet support the long-term story, but the premium sales valuation, Ingrezza dependence and product-development risks reduce the case for ignoring entry discipline.

The stock currently carries a Zacks Rank #3 (Hold). It also has a Growth Score of A, Value Score of B, Momentum Score of D and VGM Score of A. The Style Scores show favorable growth and value characteristics, but the weak Momentum Score and Zacks Rank #3 make the setup more consistent with a hold-or-wait posture than an aggressive buy case.

Key Takeaways Neurocrine's Ingrezza sales rose 17% to $1.4 billion in the first half of 2026.Record new prescriptions and double-digit volume growth drove a higher 2026 Ingrezza sales outlook.Austedo's growth and potential pricing pressure could challenge Ingrezza's momentum over time. Neurocrine Biosciences (NBIX - Free Report) has had an encouraging start so far in 2026, with strong revenue growth, supported by continued momentum in its commercial portfolio. The top-line benefits primarily from Ingrezza, the company's blockbuster VMAT2 inhibitor, which remains Neurocrine’s primary revenue driver and a key pillar of its growth story.

Ingrezza sales rose 17% year over year to $1.4 billion in the first half of 2026, supported by record new prescriptions and double-digit total volume growth. The strong performance prompted management to raise its Ingrezza sales guidance for full-year 2026 to $2.83-$2.88 billion from $2.7-$2.8 billion. The midpoint implies approximately 13% year-over-year growth, indicating that Neurocrine expects the drug's commercial momentum to remain solid through the remainder of the year.

Ingrezza is approved for two indications — tardive dyskinesia (TD) and chorea associated with Huntington's disease (HD). However, TD represents the larger commercial opportunity for Ingrezza. Neurocrine estimates that roughly 800,000 people in the United States are affected by the disease, yet only about half are diagnosed and approximately 10% receive a VMAT2 inhibitor, highlighting the significant room for broader treatment adoption. Continued diagnosis and treatment penetration could therefore support Ingrezza's sales growth even as the drug's existing patient base expands.

In comparison, chorea affects the vast majority of the roughly 40,000 Americans living with HD. Although the addressable population is considerably smaller than that for TD, the indication provides an additional source of demand and strengthens Ingrezza's position across the movement-disorder market.

Pricing Exposure Could Become a Concern for NBIX Over TimeWhile Ingrezza continues to benefit from strong volume growth, pricing remains an important consideration for its future sales trajectory. In 2025, pricing concessions related to broader formulary access partially offset volume gains. Although management expects 2026 net pricing to remain broadly consistent with last year's levels, pricing pressure is expected to rise in the longer term.

A key factor could be the pricing of Teva Pharmaceuticals' (TEVA - Free Report) Austedo and Austedo XR, which compete with Ingrezza across both approved indications. TEVA’s therapies are set to enter the Medicare Drug Price Negotiation Program in 2027, with negotiated prices below pre-negotiation levels. This could make Austedo/Austedo XR more price-competitive among Medicare patients and potentially put additional pressure on Ingrezza's pricing and formulary positioning. Neurocrine has said it remains confident in maintaining broad access for Ingrezza, although greater pricing competition could become a concern over time.

At the same time, Austedo is gaining momentum in the market. Teva reported second-quarter 2026 Austedo sales of $696 million, up 40% year over year, underscoring the drug's growing competitive position. Like NBIX, TEVA also raised its 2026 outlook for Austedo to $2.45-$2.60 billion from $2.40-$2.55 billion.

While Austedo remains the most direct competitive threat, the pipeline is also evolving beyond VMAT2 inhibitors. Acadia Pharmaceuticals (ACAD - Free Report) recently started clinical development on ACP-271, a GPR88 agonist for TD. Though this candidate is still in early-stage development, its different mechanism could represent a longer-term competitive consideration for Ingrezza.

NBIX’s Price Performance, Valuation & EstimatesShares of Neurocrine Biosciences have outperformed the industry year to date, as seen in the chart below.

Image Source: Zacks Investment Research

The company is currently trading at a premium to the industry. Based on the price-to-sales (P/S) ratio, the stock trades at 3.69 times forward 12-month sales, above the industry average of 2.02 times.

Image Source: Zacks Investment Research

Estimate revisions for Neurocrine Biosciences’ 2026 and 2027 EPS have been mixed over the past 30 days.

Image Source: Zacks Investment Research

Neurocrine currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Neurocrine's shares fell 12% in a month as Vykat XR safety concerns mount, but Ingrezza and Crenessity support growth.

Neurocrine Biosciences Inc. (NASDAQ:NBIX) stock fell almost 5% on Wednesday before recovering after physicians and experts in Prader-Willi syndrome notified clinicians of some cases of deaths and severe complications potentially associated with Vykat XR (diazoxide choline).

The San Diego-based company added Vykat after acquiring Soleno Therapeutics Inc. for $53 per share in cash, totaling approximately $2.9 billion.

The acquisition aimed to expand Neurocrine’s portfolio with Vykat XR, the first FDA-approved treatment for hyperphagia in Prader-Willi syndrome, which could significantly enhance its revenue potential as the company strengthens its position in the endocrinology and rare disease markets.

The FDA approved the drug in 2025 to manage hyperphagia in PWS patients four years and older; the medication carries warnings regarding edema and fluid overload.

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Seven Deaths Reported In FDA Adverse Event DataAccording to data from the FDA Adverse Event Monitoring System as of July 31, 2026, there have been seven reported deaths and more than 100 serious adverse events, primarily involving edema, respiratory, and cardiac issues.

Individuals facing these adverse outcomes frequently had complex medical histories, pre-existing obesity, and multiple concurrent medications.

While the reports cannot definitively prove whether Vykat XR directly caused these incidents, doctors note that baseline PWS mortality ranges between 1% and 3% annually.

Certain underlying conditions appear to elevate safety risks during treatment initiation or dose adjustment. These key factors include severe obesity, heart problems, pre-existing fluid retention, severe breathing difficulties, untreated sleep apnea, and a history of severe respiratory infections.

Q2 Sales of $54 MillionVykat XR second-quarter 2026 net product sales were $54 million from May 18, 2026, the closing date of the Soleno acquisition. Unaudited pro forma full-quarter net product sales were $94 million.

Healthcare providers considering this therapy should conduct comprehensive individual assessments before initiating treatment. Recommended measures include conducting baseline testing, such as echocardiograms, and monitoring for fluid retention.

Physicians are urged to consider slowing the drug’s titration process and carefully watching for warning symptoms like rapid weight gain, dyspnea, orthopnea, or worsening edema.

NBIX Stock Price Activity: Neurocrine Biosciences shares were down 2.07% at $159.63 at the time of publication on Wednesday, according to Benzinga Pro data.

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INGREZZA is the only vesicular monoamine transporter 2 inhibitor with clinical trial data demonstrating improvements in quality of life and functionality in people living with tardive dyskinesia across multiple validated patient-reported outcomes Mean improvements in the patient-reported impacts of tardive dyskinesia and clinician-rated movement severity exceeded established thresholds for clinically meaningful change at Week 24, with improvements observed regardless of underlying psychiatric diagnosis or baseline movement severity Approximately 58% of patients met the threshold for tardive dyskinesia symptomatic remission at Week 24, based on clinician assessment of movement severity Findings reinforce that even patients with mild tardive dyskinesia movements are impacted and can experience meaningful improvements in movement severity, quality of life and functionality with INGREZZA treatment , /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced publication of the KINECT-PRO™ Phase 4 open-label study results demonstrating that treatment with once-daily INGREZZA® (valbenazine) capsules resulted in substantial and sustained improvements in patient-reported quality of life and functionality, alongside improvements in clinician-rated tardive dyskinesia (TD) movement severity. Improvements were observed regardless of underlying psychiatric diagnosis or baseline TD movement severity, including among participants with clinician-rated mild TD movements. The manuscript appears in CNS Spectrums.

KINECT-PRO is currently the only study to assess the effects of a vesicular monoamine transporter 2 (VMAT2) inhibitor (INGREZZA) on quality of life and functionality using multiple validated patient-reported outcomes (PROs), including the Tardive Dyskinesia Impact Scale (TDIS™). TDIS, developed by Neurocrine Biosciences in partnership with thought leaders in neurology and psychiatry, is a unique, psychometrically validated tool that measures the impact and burden of TD from a patient's perspective. Together with clinician-rated assessments, these findings provide a more comprehensive understanding of how treatment may affect both TD movements and the impact of the disease on patients' daily lives.

"The KINECT-PRO clinical study incorporated validated patient-reported measures, including the Tardive Dyskinesia Impact Scale, to better understand the effects of treating tardive dyskinesia with INGREZZA on patient-reported quality of life and functioning," said Sanjay Keswani, M.D., Chief Medical Officer, Neurocrine Biosciences. "These findings add to the extensive body of evidence supporting the meaningful improvements INGREZZA has on movement severity and quality of life and functionality."

"Quality of life and day-to-day functioning are important considerations when evaluating the impact of tardive dyskinesia and treatment goals," said Christoph U. Correll, M.D., Professor of Psychiatry, The Zucker Hillside Hospital and primary author of the manuscript. "These findings showed improvements with INGREZZA in both clinician-rated movement severity and patient-reported daily impact and reinforced the potential for meaningful benefit across a broad range of patients regardless of baseline movement severity or underlying psychiatric diagnosis."

KINECT-PRO evaluated improvements in outcomes that matter to patients

The primary endpoints of KINECT-PRO were changes from baseline to Week 24 in three validated patient-reported measures of quality of life and functionality, including:

TDIS: Measures the physical, social and emotional impacts of TD. EuroQoL Visual Analogue Scale (EQ-VAS): Measures patients' self-rated overall health status. The Sheehan Disability Scale (SDS): Measures patient-reported functional impairment in work/school, social life and family/home life.  Secondary endpoints evaluated clinician- and patient-reported changes in TD severity using the Abnormal Involuntary Movement Scale (AIMS), the Patient Global Impression of Change (PGI-C) and the Clinical Global Impression of Severity-TD (CGI-TD-S). Fifty-nine patients were enrolled in the KINECT-PRO study and received once-daily INGREZZA (40 mg, 60 mg or 80 mg) for up to 24 weeks. At baseline, approximately 41% of patients (24/59) had clinician-rated mild TD movement severity, while approximately 59% (35/59) had clinician-rated moderate or severe TD movement severity. Approximately 46% of patients (27/59) had schizophrenia or schizoaffective disorder, and approximately 54% (32/59) had major depressive disorder or bipolar disorder. Fifty-two patients completed the Week 24 visit.

Patients experienced improvements in quality of life, functionality and movement severity

KINECT-PRO participants experienced substantial improvements across the three validated patient-reported measures of quality of life (TDIS, SDS and EQ-VAS), as well as improvements in clinician-reported TD severity.

Mean improvements in TD impact (TDIS) and movement severity (AIMS) exceeded established minimal clinically important difference (MCID) thresholds as early as Week 8 and Week 4, respectively, and were sustained to Week 24. Improvements were observed regardless of underlying psychiatric condition or TD movement severity at baseline. Even patients with milder clinician-rated TD movement severity were impacted by TD at baseline and experienced clinically meaningful improvements by Week 24, including a -6.8 mean change from baseline in TDIS and a -5.6 mean change from baseline in AIMS. Approximately 58% of patients (26/45) met the threshold for TD symptomatic remission at Week 24, defined as a movement severity score of 0 ("none") or 1 ("minimal") in each of the seven body regions assessed by AIMS. Safety and tolerability of treatment were consistent with the known profile of INGREZZA, with no new concerns identified.
Mean Change from Baseline at Week 24

TDIS†

(MCID -4)

SDS -

Social Life†

SDS -

Family Life†

EQ-VAS‡

AIMS Total
Score†

(MCID -2)

Overall Population

(n=45)*

-8.0

-2.3

-1.6

+13.1

-6.8

Mild TD Subgroup

(n=20)

-6.8

-1.8

-1.3

+12.8

-5.6

Moderate/Severe
TD Subgroup

(n=25)

-8.9

-2.8

-1.8

+13.3

-7.8

*52/59 (88%) completed the Week 24 visit; 45 were included for efficacy analyses.

†A decrease in score indicated improvement.

‡An increase in score indicated improvement.

About the KINECT-PRO™ Phase 4 Study
The KINECT-PRO™ Phase 4, open-label study was designed to evaluate patient-reported outcomes on the use of INGREZZA® (valbenazine) capsules in a tardive dyskinesia (TD) patient population reflective of real-world clinical practice. Participants had at least mild TD, were aware of and experiencing at least mild distress from their abnormal, involuntary movements and had a clinical diagnosis of schizophrenia, schizoaffective disorder, bipolar disorder or major depression. The KINECT-PRO study included a four-week screening period, a 24-week treatment period during which participants received 40 mg of INGREZZA once-daily for the first four weeks, followed by flexible dosing of 40 mg, 60 mg or 80 mg once-daily based on individual treatment needs and a two-week safety follow-up period. Baseline socio-demographic and clinical characteristics of the participants were broadly similar to those of the KINECT® 3 and KINECT® 4 studies.

KINECT-PRO is the first and only study to specifically evaluate and demonstrate patient-reported improvement with vesicular monoamine transporter 2 inhibitor treatment on TD using multiple clinically validated scales, including the Tardive Dyskinesia Impact Scale (TDIS™). The TDIS is the only patient-reported outcome instrument designed for and psychometrically validated in tardive dyskinesia patients that measures the physical, social and emotional impact of the involuntary movements of the condition.

About the Tardive Dyskinesia Impact Scale
The Tardive Dyskinesia Impact Scale (TDIS™) is the only patient-reported outcome instrument designed for and validated in tardive dyskinesia patients that measures the physical, social and emotional impact of the involuntary movements of the condition. It was developed by Neurocrine Biosciences in partnership with thought leaders in neurology and psychiatry from qualitative studies and Phase 3 trials of INGREZZA for the treatment of TD (KINECT® 3 and KINECT® 4) as a comprehensive measure of impact and burden of TD from a patient's perspective. The TDIS consists of 11 questions evaluating physical and socio-emotional impact. Six scales are assessed: mouth/throat, dexterity, mobility, pain, social and emotional. The TDIS allows people with TD to rate how their symptoms affect daily activities and how their uncontrollable movements make them feel. The questionnaire captures relevant information about the impact of TD to provide a more holistic assessment of the condition. Validation of this scale was published in the Journal of Patient-Reported Outcomes.

About the EQ Visual Analogue Scale and the Sheehan Disability Scale 
The EQ Visual Analogue Scale (EQ-VAS) is the second component of the 5-level EQ 5D (EQ-5D-5L). The EQ-VAS is a visual scale ranging from 0 "the worst health you can imagine" to 100 "the best health you can imagine" that assesses a patient's self-rated health, with higher scores indicating better health status.

The Sheehan Disability Scale (SDS) is a five-item, patient-reported outcome measure which includes social, family and occupational life domains. Three items assess impairment in terms of work/school, social life and family life/home responsibilities and are scored independently (0 [not impaired] to 10 [extremely impaired]) or combined for a total score (0 to 30). Two items assess number of days lost or underproductive. A decrease in score indicates improvement.

About Tardive Dyskinesia
Tardive dyskinesia (TD) is a movement disorder that is characterized by uncontrolled, abnormal and repetitive movements of the face, torso and/or other body parts, which may be disruptive and negatively impact patients. The condition is associated with taking certain kinds of mental health medicines (antipsychotics) that help control dopamine receptors in the brain. Taking antipsychotics commonly prescribed to treat mental illnesses such as major depressive disorder, bipolar disorder, schizophrenia and schizoaffective disorder and other prescription medicines (metoclopramide and prochlorperazine) used to treat gastrointestinal disorders are associated with TD. In patients with TD, these treatments are thought to result in irregular dopamine signaling in a region of the brain that controls movement. The symptoms of TD can be mild to severe and are often persistent and irreversible. TD is estimated to affect at least 800,000 adults in the U.S.

About INGREZZA® (valbenazine) Capsules and INGREZZA® SPRINKLE (valbenazine) Capsules 
INGREZZA is a selective vesicular monoamine transporter 2 (VMAT2) inhibitor approved by the U.S. Food and Drug Administration for the treatment of adults with tardive dyskinesia and the treatment of chorea associated with Huntington's disease (HD). Only INGREZZA offers a therapeutic dose from day one with no required titration.

INGREZZA, developed by Neurocrine Biosciences, selectively inhibits VMAT2 with no appreciable binding affinity for VMAT1, dopaminergic (including D2), serotonergic, adrenergic, histaminergic or muscarinic receptors. While the specific way INGREZZA works to treat TD and HD chorea is not fully understood, INGREZZA is unique in that it selectively and specifically targets VMAT2 to inhibit the release of dopamine, a chemical in the brain that helps control movement. INGREZZA is believed to reduce extra dopamine signaling, which may lead to fewer uncontrollable movements.

INGREZZA is studied across the widest range of patients. It is always one capsule, once daily and can be taken together with most stable mental health regimens such as antipsychotics or antidepressants. Only INGREZZA offers the benefit of a sprinkle formulation, INGREZZA SPRINKLE, for those who experience dysphagia, have difficulty swallowing or prefer not to swallow a pill. INGREZZA and INGREZZA SPRINKLE dosages approved for use are 40 mg, 60 mg and 80 mg capsules.

Important Information

Approved Uses 
INGREZZA® (valbenazine) capsules or INGREZZA® SPRINKLE (valbenazine) capsules are prescription medicines used to treat adults with:

movements in the face, tongue, or other body parts that cannot be controlled (tardive dyskinesia).  involuntary movements (chorea) of Huntington's disease. INGREZZA or INGREZZA SPRINKLE do not cure the cause of involuntary movements, and do not treat other symptoms of Huntington's disease, such as problems with thinking or emotions.  It is not known if INGREZZA or INGREZZA SPRINKLE is safe and effective in children. 

IMPORTANT SAFETY INFORMATION 

INGREZZA or INGREZZA SPRINKLE can cause serious side effects in people with Huntington's disease, including: depression, suicidal thoughts, or suicidal actions. Tell your healthcare provider before you start taking INGREZZA or INGREZZA SPRINKLE if you have Huntington's disease and are depressed (have untreated depression or depression that is not well controlled by medicine) or have suicidal thoughts. Pay close attention to any changes, especially sudden changes, in mood, behaviors, thoughts, or feelings. This is especially important when INGREZZA or INGREZZA SPRINKLE is started and when the dose is changed. Call your healthcare provider right away if you become depressed, have unusual changes in mood or behavior, or have thoughts of hurting yourself. 

Do not take INGREZZA or INGREZZA SPRINKLE if you: 

are allergic to valbenazine, or any of the ingredients in INGREZZA or INGREZZA SPRINKLE.  INGREZZA or INGREZZA SPRINKLE can cause serious side effects, including: 

Allergic reactions. Allergic reactions, including an allergic reaction that causes sudden swelling called angioedema, can happen after taking the first dose or after many doses of INGREZZA or INGREZZA SPRINKLE. Signs and symptoms of allergic reactions and angioedema include: trouble breathing or shortness of breath, swelling of your face, lips, eyelids, tongue, or throat, or other areas of your skin, trouble with swallowing, or rash, including raised, itchy red areas on your skin (hives). Swelling in the throat can be life-threatening and can lead to death. Stop taking INGREZZA or INGREZZA SPRINKLE and go to the nearest emergency room right away if you develop these signs and symptoms of allergic reactions and angioedema.  Sleepiness and tiredness that could cause slow reaction times (somnolence and sedation). Do not drive a car or operate dangerous machinery until you know how INGREZZA or INGREZZA SPRINKLE affects you. Drinking alcohol and taking other medicines may also cause sleepiness during treatment with INGREZZA or INGREZZA SPRINKLE.  Heart rhythm problems (QT prolongation). INGREZZA or INGREZZA SPRINKLE may cause a heart rhythm problem known as QT prolongation. You have a higher chance of getting QT prolongation if you also take certain other medicines during treatment with INGREZZA or INGREZZA SPRINKLE. Tell your healthcare provider right away if you develop any signs or symptoms of QT prolongation, including: fast, slow, or irregular heartbeat (heart palpitations), shortness of breath, dizziness or lightheadedness, or fainting or feeling like you are going to faint.  Neuroleptic Malignant Syndrome (NMS). NMS is a serious condition that can lead to death. Call a healthcare provider right away or go to the nearest emergency room if you develop these symptoms and they do not have another obvious cause: high fever, stiff muscles, problems thinking, irregular pulse or blood pressure, increased sweating, or very fast or uneven heartbeat.  Parkinson-like symptoms. Symptoms include: body stiffness, drooling, trouble moving or walking, trouble keeping your balance, shaking (tremors), or falls.  Before taking INGREZZA or INGREZZA SPRINKLE, tell your healthcare provider about all of your medical conditions including if you: have liver or heart problems, are pregnant or plan to become pregnant, or are breastfeeding or plan to breastfeed.

Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Make sure you tell all of your healthcare providers that you are taking INGREZZA or INGREZZA SPRINKLE. Taking INGREZZA or INGREZZA SPRINKLE with certain other medicines may cause serious side effects. Especially tell your healthcare provider if you: take digoxin or take or have taken a monoamine oxidase inhibitor (MAOI) medicine. You should not take INGREZZA or INGREZZA SPRINKLE if you are taking, or have stopped taking, a MAOI within the last 14 days. 

The most common side effects of INGREZZA or INGREZZA SPRINKLE in people with tardive dyskinesia are sleepiness and tiredness.

The most common side effects of INGREZZA or INGREZZA SPRINKLE in people with chorea associated with Huntington's disease include sleepiness and tiredness, raised itchy red areas on your skin (hives), rash, and trouble getting to sleep or staying asleep. 

These are not all of the possible side effects of INGREZZA or INGREZZA SPRINKLE. Call your doctor for medical advice about side effects. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit MedWatch at www.fda.gov/medwatch or call 1-800-FDA-1088. 

Dosage Forms and Strengths: INGREZZA and INGREZZA SPRINKLE are available in 40 mg, 60 mg, and 80 mg capsules. 

Please see full Prescribing Information, including Boxed Warning, and Medication Guide. 

About Neurocrine Biosciences, Inc. 
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)

The NEUROCRINE BIOSCIENCES Logo, NEUROCRINE, YOU DESERVE BRAVE SCIENCE, KINECT and INGREZZA are registered trademarks of Neurocrine Biosciences, Inc. KINECT-PRO and TDIS are trademarks of Neurocrine Biosciences, Inc.

Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the potential benefits to be derived from INGREZZA, the interpretation and potential relevance of the data described in this press release, including statements regarding clinically meaningful improvements in patient-reported quality of life and functional capacity and clinician-rated movement severity among patients with tardive dyskinesia, and the value INGREZZA may bring to patients. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: risks and uncertainties as to whether the data described in this press release will be replicated in additional studies or will be predictive of efficacy or other clinical outcomes in subsequent clinical studies or real-world use of INGREZZA; risks and uncertainties associated with Neurocrine Biosciences' business and finances in general, as well as risks and uncertainties associated with the commercialization of INGREZZA; whether INGREZZA receives adequate reimbursement from third-party payors; risks and uncertainties relating to competitive products and technological changes that may limit demand for INGREZZA; risks associated with the Company's dependence on third parties for development and manufacturing activities related to INGREZZA, and the ability of the Company to manage these third parties; risks that additional regulatory submissions for INGREZZA or other product candidates may not occur or be submitted in a timely manner; risks that the FDA or other regulatory authorities may make adverse decisions regarding INGREZZA; risks that post-approval INGREZZA commitments or requirements may be delayed; risks that INGREZZA may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and other risks described in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than required by law.

© 2026 Neurocrine Biosciences, Inc. All Rights Reserved. CAP-VBZ-US-0106 08/2026 

SOURCE Neurocrine Biosciences, Inc.

Initiation of study marks an important milestone in advancing Neurocrine's obesity portfolio and investigational metabolic disease pipeline   , /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced the initiation of a Phase 1 first-in-human clinical study evaluating the safety and tolerability of NBIP-'1968, an investigational GLP-1/GIP/glucagon receptor triple agonist being developed as a therapy for obesity.

"Obesity is a complex chronic disease driven by multiple biological pathways, underscoring the need for additional treatment options," said Sanjay Keswani, M.D., Chief Medical Officer, Neurocrine Biosciences. "NBIP-'1968 is designed to engage three complementary metabolic mechanisms, reflecting our commitment to exploring multiple scientific approaches to obesity."

The Phase 1 study initially will evaluate the safety and tolerability of single ascending doses of NBIP-'1968 in adult participants across a range of body mass index categories, including overweight and obese.

NBIP-'1968 is an internally discovered, investigational long-acting triple agonist designed for once-weekly subcutaneous administration. It targets the receptors for glucagon-like peptide-1 (GLP-1), glucose-dependent insulinotropic polypeptide (GIP) and glucagon to influence metabolic pathways involved in appetite regulation, energy balance and glycemic control. NBIP-'1968 was designed with balanced glucagon receptor activity to optimize the potential metabolic benefits of glucagon receptor activation while supporting tolerability.

Neurocrine is developing NBIP-'1968 as part of a broader obesity portfolio that includes NBIP-'2118, an investigational corticotropin-releasing factor type 2 receptor agonist currently in Phase 1 development. NBIP-'1968 is intended for use in a fixed-dose combination with NBIP-'2118. The company's obesity research also includes earlier-stage programs designed to explore complementary mechanisms and extended dosing intervals.

"Advancing NBIP-'1968 into the clinic marks another important step in building our obesity portfolio," said Jude Onyia, Ph.D., Chief Scientific Officer, Neurocrine Biosciences. "Our strategy is to explore complementary and differentiated mechanisms that may improve weight loss, preserve lean mass and ultimately address the diverse needs of people living with obesity."

About Obesity
Obesity is a chronic disease characterized by excess body fat and is associated with serious health conditions, including type 2 diabetes, cardiovascular disease, obstructive sleep apnea, metabolic dysfunction-associated steatohepatitis/fatty liver disease, certain cancers and osteoarthritis. It is driven by complex biological, environmental, and genetic factors – not simply lifestyle or willpower. Obesity has reached epidemic levels worldwide, affecting a significant proportion of adults and placing a substantial burden on public health systems. Despite recent advances in treatment, there remains a need for additional therapies that support safe, effective and sustainable long-term weight management. Current therapies can have challenges with respect to gastrointestinal tolerability, dose titration, and muscle loss.

About Neurocrine Biosciences, Inc.  
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)

NEUROCRINE, the NEUROCRINE BIOSCIENCES logo and YOU DESERVE BRAVE SCIENCE are registered trademarks of Neurocrine Biosciences, Inc.

Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the efficacy and therapeutic potential of NBIP-'2118, NBIP-'1968 and other preclinical programs for obesity. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: risks that clinical development activities may not be initiated or completed on time or at all, or may be delayed for regulatory, manufacturing or other reasons, may not be successful or replicate previous clinical trial results, may fail to demonstrate that our product candidates are safe and effective, or may not be predictive of real-world results or of results in subsequent clinical trials; risks that regulatory submissions for our product candidates may not occur or be submitted in a timely manner; our future financial and operating performance; risks associated with our dependence on third parties for development, manufacturing and commercialization activities for our products and product candidates and our ability to manage these third parties; risks that the FDA or other regulatory authorities may make adverse decisions regarding our products or product candidates; risks that the potential benefits of the agreements with our collaboration partners may never be realized; risks that our products and/or our product candidates may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; risks associated with U.S. federal or state legislative or regulatory and/or policy efforts which may result in, among other things, an adverse impact on our revenues or potential revenue; risks associated with potential generic entrants for our products; and other risks described in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than required by law.

© 2026 Neurocrine Biosciences. Inc. All Rights Reserved.

SOURCE Neurocrine Biosciences, Inc.

Key Takeaways NBIX reported $959M in revenues, driven by commercial execution and portfolio expansion.INGREZZA sales rose 15% y/y as prescriptions and market growth continued.NBIX expects Phase III readouts in 2027 for osavampator and direclidine programs. Neurocrine Biosciences, Inc. (NBIX - Free Report) highlighted the continued expansion of its commercial portfolio during its second-quarter 2026 earnings call, with management emphasizing growth from INGREZZA, CRENESSITY and the newly acquired VYKAT XR. The company also outlined upcoming clinical catalysts and its strategy to diversify beyond its established franchises.

The company reported non-GAAP earnings of $2.85 per share, beating the Zacks Consensus Estimate of $2.26. Revenues were $959 million, surpassing the estimate of $901.5 million. Management focused on commercial execution, pipeline advancement and disciplined business development following the Soleno Therapeutics acquisition.

NBIX Builds Broader Commercial FoundationNeurocrine said that its second-quarter results reflected progress toward becoming a diversified biotechnology company rather than a single-product business. CEO Kyle Gano noted that the company’s commercial portfolio generated more than $950 million in quarterly net product sales.

INGREZZA remained the largest contributor, with second-quarter net sales of $716 million, up 15% year over year. Management attributed the performance to record patient additions, prescription growth, and sustained demand in tardive dyskinesia and Huntington’s disease chorea.

Chief commercial officer Eric Benevich said that INGREZZA continued to benefit from market expansion, with the VMAT2 category growing and the company maintaining its position as the most prescribed VMAT2 inhibitor.

CRENESSITY Maintains Strong Launch MomentumCRENESSITY continued to gain adoption in classic congenital adrenal hyperplasia (CAH). The therapy generated second-quarter sales of $184 million compared with $53 million in the prior-year period, supported by patient demand and expanding physician adoption.

Benevich said that the launch trajectory remained consistent, with steady patient additions, favorable reimbursement and increasing prescriber engagement. Approximately 15% of the estimated diagnosed patient population has now been prescribed CRENESSITY.

During Q&A, a TD Cowen analyst asked whether the quarter benefited from unusual factors. Benevich responded that results reflected the ongoing launch pattern rather than a one-time boost, with continued adoption across pediatric endocrinologists, adult endocrinologists and CAH Centers of Excellence.

Neurocrine Integrates VYKAT XR AcquisitionThe acquisition of Soleno Therapeutics added VYKAT XR to Neurocrine’s portfolio, expanding its rare disease and endocrinology presence. The transaction closed in May 2026 for $2.9 billion.

VYKAT XR generated $54 million in recognized second-quarter sales following the acquisition close, while pro-forma full-quarter sales were $94 million. Management said that integration efforts are progressing and expects sequential quarterly growth exiting 2026.

During Q&A, a BofA Securities analyst questioned the near-term launch trajectory. Benevich said that the company remains confident in VYKAT XR’s long-term potential, with priorities centered on identifying patients, educating providers and improving treatment adoption in Prader-Willi syndrome.

NBIX Advances Pipeline CatalystsManagement highlighted several late-stage programs expected to provide growth opportunities. Chief medical officer Sanjay Keswani said that the company remains on track for Phase III data readouts for osavampator in major depressive disorder and direclidine in schizophrenia in 2027.

The company is also advancing its muscarinic franchise, with multiple programs targeting neurological and psychiatric conditions. Chief business officer Samir Siddhanti said that the pipeline includes four muscarinic programs spanning schizophrenia, bipolar mania and Alzheimer’s disease-related indications.

Management also discussed its obesity research efforts, noting that its CRF2 agonist program is progressing through Phase I development with future studies focused on weight loss and lean mass preservation.

Neurocrine Expands Investment CapacityNBIX increased investment across research and commercial infrastructure while integrating VYKAT XR. Second-quarter GAAP research and development expenses rose to $327 million from $244 million a year earlier, while GAAP selling, general and administrative expenses increased to $440 million from $286 million.

The company raised its 2026 INGREZZA sales guidance to $2.83-$2.88 billion from the previous $2.7-$2.8 billion. Management also updated the expense guidance to reflect expanded commercial activities and acquisition-related costs.

Chief financial officer Matthew Abernethy said that the company ended the quarter with approximately $500 million in cash and no debt after completing the Soleno acquisition.

NBIX Maintains Long-Term Growth FocusNeurocrine emphasized a strategy built around commercial execution, pipeline development and selective business development. Management said that the company’s expanded portfolio provides greater flexibility to invest through innovation cycles.

The company continues to focus on advancing first-in-class and potentially best-in-class medicines across neuroscience, psychiatry, endocrinology and immunology. Upcoming clinical milestones remain central to management’s long-term growth plans.

Zacks Rank & Style ScoresNBIX carries a Zacks Rank #2 (Buy) at present. The Zacks Rank reflects earnings estimate revision trends and can change as analysts update their expectations following new company developments and the quarterly results. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The stock has a Value Score of B, a Growth Score of A, a Momentum Score of F and a VGM Score of B. Zacks Style Scores evaluate value, growth and momentum characteristics, with stronger grades representing more favorable relative attributes.

Neurocrine Biosciences (NBIX - Free Report) came out with quarterly earnings of $2.85 per share, beating the Zacks Consensus Estimate of $2.26 per share. This compares to earnings of $1.06 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +26.11%. A quarter ago, it was expected that this biopharmaceutical company would post earnings of $1.68 per share when it actually produced earnings of $1.94, delivering a surprise of +15.48%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Neurocrine, which belongs to the Zacks Medical - Drugs industry, posted revenues of $959 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.37%. This compares to year-ago revenues of $687.5 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Neurocrine shares have added about 27.5% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for Neurocrine?While Neurocrine has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Neurocrine was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.47 on $1.01 billion in revenues for the coming quarter and $9.09 on $3.77 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Theravance Biopharma (TBPH - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This biopharmaceutical company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +337.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Theravance Biopharma's revenues are expected to be $19.79 million, down 24.4% from the year-ago quarter.

Total Second-Quarter 2026 Revenue Grew 39% Year-Over-Year to $959 Million

INGREZZA® (valbenazine) 2026 Net Sales Guidance Raised to $2.825 to $2.875 Billion

Acquisition of Soleno Therapeutics Completed in May 2026

, /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced its financial results for the second quarter ended June 30, 2026.

"Our second quarter performance demonstrates the power of a strategy designed to compound over time," said Kyle W. Gano, Ph.D., Chief Executive Officer of Neurocrine Biosciences. "As our commercial portfolio of first-in-class medicines continues to grow, so does our capacity to reinvest in innovation, advance a differentiated late-stage pipeline and pursue strategic opportunities that strengthen the company for the long term. With multiple important clinical milestones in 2027, including Phase 3 readouts for osavampator in major depressive disorder and direclidine in schizophrenia, we are building an enduring company poised to deliver meaningful value for patients and shareholders for years to come."

Total Revenue Highlights

Three Months Ended

June 30,

(unaudited, in millions, except per share data)

2026

2025

YoY Growth

Revenues:

INGREZZA Net Product Sales

$         716

$         624

15 %

CRENESSITY® (crinecerfont) Net Product Sales

184

53

247 %

VYKAT® (diazoxide choline) XR Net Product Sales*

54

—

NM

Other Revenues

5

11

NM

Total Revenues

$         959

$         688

39 %

* Net product sales for VYKAT XR are included from the closing of the Soleno Therapeutics acquisition on May 18th

Total revenues for the second quarter 2026 were $959 million, compared with $688 million in the prior-year period representing 39% year-over-year growth. Unaudited pro-forma total revenues were $998 million for the second quarter 2026 when including full quarter VYKAT XR net product sales. INGREZZA second-quarter 2026 net product sales were $716 million, representing 15% growth year-over-year. Results reflected double-digit prescription volume growth in TRx and record NRx driven by strong patient demand. INGREZZA full year 2026 guidance was increased from a range of $2.7 billion to $2.8 billion up to $2.825 billion to $2.875 billion. CRENESSITY second-quarter 2026 net product sales were $184 million, driven by strong patient demand with approximately 80% reimbursement for dispensed prescriptions in the second quarter 2026. VYKAT XR second-quarter 2026 net product sales were $54 million from May 18, 2026, the closing date of the Soleno acquisition. Unaudited pro-forma full quarter net product sales were $94 million. Recent Clinical and Corporate Developments

In May 2026, acquired Soleno Therapeutics for $53.00 per share in cash, representing a total transaction equity value of $2.9 billion. The addition of VYKAT XR, a first-in-class therapy to treat hyperphagia in Prader-Willi syndrome (PWS), expands Neurocrine's portfolio of innovative medicines and strengthens its leadership position in endocrinology and rare disease. In May 2026, the Company entered into a $1.0 billion senior secured revolving credit facility to provide an additional source of liquidity for general corporate purposes. As of June 30, 2026, available borrowing capacity was $1.0 billion. Announced new two-year data from the Phase 3 CAHtalyst® Pediatric study showing positive growth outcomes in children and adolescents with classic congenital adrenal hyperplasia treated with CRENESSITY. Announced new two-year data from the Phase 3 CAHtalyst® Adult study demonstrating improved cardiometabolic outcomes alongside sustained glucocorticoid dose reduction through up to two years of treatment with CRENESSITY for classic congenital adrenal hyperplasia. Announced publication of expert recommendations for glucocorticoid dose reduction after initiating CRENESSITY for the treatment of classic congenital adrenal hyperplasia. Presented new VYKAT XR data demonstrating meaningful and durable improvements in hyperphagia and behavioral symptoms in Prader-Willi syndrome following randomized withdrawal period. Announced new post-hoc data from the KINECT® 4 clinical trial demonstrating that adults with tardive dyskinesia treated with INGREZZA capsules experienced clinically meaningful and robust improvements in involuntary movement severity, including those who did not meet the stringent symptomatic remission threshold. Initiated Phase 2 clinical study to assess the safety and tolerability of crinecerfont in children aged 3 months to under 4 years with classic congenital adrenal hyperplasia. Promoted Samir Siddhanti to the executive management team as Chief Business Officer where he will lead the Company's business development, corporate strategy, and R&D portfolio management functions helping guide Neurocrine's continued evolution into a leading, global biotechnology company. Second-Quarter 2026 Financial Results

Three Months Ended

June 30,

(unaudited, in millions, except per share data)

2026

2025

Total Revenues

$         959

$         688

GAAP Cost of Revenues

$           23

$           10

Non-GAAP Cost of Revenues

$           18

$           10

GAAP Research and Development (R&D)

$         327

$         244

Non-GAAP R&D

$         276

$         223

GAAP Selling, General, and Administrative (SG&A)

$         440

$         286

Non-GAAP SG&A

$         305

$         255

GAAP Net Income

$         144

$         108

GAAP Earnings Per Share – Diluted

$        1.39

$        1.06

Non-GAAP Net Income

$         297

$         166

Non-GAAP Earnings Per Share – Diluted

$        2.85

$        1.65

(unaudited, in millions)

June 30,

2026

December 31,

2025

Total Cash, Cash Equivalents, and Marketable Securities

$         482

$       2,543

Second-quarter 2026 GAAP net income and earnings per share were $144 million and $1.39, respectively, compared with $108 million and $1.06, respectively, for second-quarter 2025. Second-quarter 2026 Non-GAAP net income and earnings per share were $297 million and $2.85, respectively, compared with $166 million and $1.65, respectively, for second-quarter 2025. A reconciliation of GAAP to Non-GAAP financial results can be found in Table 3 at the end of this press release. Second-quarter 2026 GAAP and Non-GAAP net income compared with second-quarter 2025 were primarily driven by: Higher net product sales of $272 million. For the second quarter 2026, GAAP operating expenses included certain expenses associated with the acquisition of Soleno Therapeutics, Inc., which closed in May 2026, and are excluded from Non-GAAP operating expenses. Increased R&D expense in support of an expanded and advancing pre-clinical and clinical portfolio included investments in the osavampator Phase 3 program in major depressive disorder (MDD) and the muscarinic franchise, including the direclidine Phase 3 program as a potential treatment for adults with schizophrenia. Development milestone expense included in R&D was $0.3 million and $15 million for the second quarter 2026 and 2025. Increased SG&A expense primarily reflected continued investment in our commercial organization, included the expansion of our INGREZZA and CRENESSITY sales teams in the first quarter of 2026 and partial quarter of expense for support of VYKAT XR. At June 30, 2026, the Company had cash, cash equivalents, and marketable securities totaling approximately $482 million.  Full Year 2026 Financial Guidance

(dollars in millions)

Prior

Updated

INGREZZA Net Product Sales 1

$2,700 - $2,800

$2,825 - $2,875

GAAP R&D 2

$1,200 - $1,250

$1,275 - $1,325

Non-GAAP R&D 2, 3

$1,110 - $1,160

$1,140 - $1,190

IPR&D 4

$20

$23

GAAP SG&A 5

$1,375 - $1,400

$1,575 - $1,600

Non-GAAP SG&A 3, 5

$1,240 - $1,265

$1,325 - $1,350

GAAP Amortization of Acquired
Intangible Assets 6

Not applicable

$85 - $90

INGREZZA sales guidance reflects expected net product sales of INGREZZA in tardive dyskinesia and chorea associated with Huntington's disease. R&D guidance reflects the continued advancement of the Company's pre-clinical and clinical portfolio including the Phase 3 programs for osavampator in MDD and direclidine in schizophrenia, and includes approximately $25 million of expense for development milestones related to our in-licensed product candidates. Development milestones are included in R&D guidance once achieved or deemed probable to achieve. Non-GAAP guidance has been adjusted to exclude estimated non-cash stock-based compensation expense of approximately $115 million in R&D and $170 million in SG&A, including approximately $58 million related to the acceleration of vesting of equity awards for Soleno employees which vested in full upon the closing of the transaction, and acquisition, integration and divestiture-related expenses of approximately $95 million. Non-cash stock-based compensation expense for performance-based equity awards is included in guidance once the predefined performance-based criteria for vesting is achieved or deemed probable to achieve. IPR&D guidance represents completed collaboration and licensing arrangements. SG&A guidance reflects expense for ongoing commercial initiatives, including the recent expansion of our sales teams in Q1 2026, supporting INGREZZA growth and the launch of CRENESSITY and VYKAT XR. In connection with the acquisition of Soleno, the Company recorded approximately $2.2 billion of intellectual property related to VYKAT XR to the balance sheet, which will be amortized over an expected life of 16 years. Conference Call and Webcast Today at 4:30 PM Eastern Time
Neurocrine Biosciences will hold a live conference call and webcast today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). Participants can access the live conference call by dialing 800-347-6865 (US) or 203-518-9757 (International) using the conference ID: NBIX. The webcast and accompanying slides can also be accessed at approximately 4:30 p.m. Eastern Time on Neurocrine Biosciences' website under Investors at www.neurocrine.com. A replay of the webcast will be available on the website approximately one hour after the conclusion of the event and will be archived for approximately one month.

About Neurocrine Biosciences
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)

NEUROCRINE, the NEUROCRINE BIOSCIENCES Logo, YOU DESERVE BRAVE SCIENCE, INGREZZA, and CRENESSITY are registered trademarks of Neurocrine Biosciences, Inc. VYKAT is a registered trademark of Soleno Therapeutics, Inc.

Non-GAAP Financial Measures
In addition to the financial results and financial guidance that are provided in accordance with accounting principles generally accepted in the United States (GAAP), this press release also contains the following Non-GAAP financial measures: Non-GAAP cost of revenues, Non-GAAP R&D expense, Non-GAAP SG&A expense, Non-GAAP other income (expense), net, Non-GAAP net income and earnings per share. When preparing the Non-GAAP financial results and guidance, the Company excludes certain GAAP items that management does not consider to be normal, including recurring cash operating expenses that might not meet the definition of unusual or non-recurring items. In particular, these Non-GAAP financial measures exclude: non-cash stock-based compensation expense, amortization expense related to acquired intangible assets, amortization expense related to acquisition-date inventory fair value step-up, stock based compensation expense related to the acceleration of vesting of equity awards for Soleno employees, changes in fair value of equity investments, acquisition-related transaction and integration costs, gains on sales of businesses, net of transaction costs, other divestiture-related transaction costs, changes in foreign currency exchange rates and certain adjustments to income tax expense. These Non-GAAP financial measures are provided as a complement to results provided in accordance with GAAP as management believes these Non-GAAP financial measures are useful to investors because they help indicate underlying trends in the Company's business, are important in comparing current results with prior period results and provide additional information regarding the Company's financial position. Management also uses these Non-GAAP financial measures to establish budgets and operational goals that are communicated internally and externally and to manage the Company's business and evaluate its performance. The Company provides guidance regarding combined R&D and SG&A expenses on both a GAAP and a Non-GAAP basis. A reconciliation of these GAAP financial results to Non-GAAP financial results is included in the attached financial information.

In connection with the Soleno acquisition, this press release also includes unaudited pro forma full quarter VYKAT XR net product sales and total revenue, Non-GAAP financial measures, which management uses, and believes is useful to investors, to provide supplemental information regarding VYKAT XR net product sales for the full second quarter of 2026, including the period from April 1, 2026 through May 17, 2026, prior to the closing of the acquisition on May 18, 2026.

Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements related to: our business strategy, objectives, and future development plans; the benefits to be derived from our products and product candidates; the value our products and/or our product candidates may bring to patients; the continued success of INGREZZA; successfully commercializing CRENESSITY and VYKAT XR; our financial and operating performance, including our future revenues, expenses, or profits; our full year 2026 financial guidance; our acquisition of Soleno Therapeutics, including the prospective benefits of the acquisition, and our strategy, plans, objectives, expectations (financial or otherwise) and intentions with respect to our future financial results, growth potential and anticipated product portfolio in connection with the acquisition; our collaborative partnerships; clinical and scientific data updates for our products and product candidates, including observations regarding clinical outcomes, safety, and tolerability; expected future clinical and regulatory milestones; and the timing of the initiation and/or completion of our clinical, regulatory, and other development activities and those of our collaboration partners. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements, include but are not limited to the following: risks and uncertainties associated with Neurocrine Biosciences' business and finances in general; risks and uncertainties associated with the commercialization of our products; risks related to our ability to realize the anticipated benefits of the acquisition of Soleno Therapeutics, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period and that we will not be able to integrate Soleno Therapeutics' business successfully or that such integration may be more difficult, time-consuming or costly than expected, disruption from the acquisition, making it more difficult to conduct business as usual or maintain relationships with employees, customers, suppliers, other business partners or governmental entities, unknown or inestimable liabilities, the risk of litigation and/or regulatory actions related to the acquisition, and the degree and pace of market uptake of VYKAT XR; risks related to the development of our product candidates; risks associated with our dependence on third parties for development, manufacturing, and commercialization activities for our products and product candidates, and our ability to manage these third parties; risks that the FDA or other regulatory authorities may make adverse decisions regarding our products or product candidates; risks that development activities may not be initiated or completed on time or at all, or may be delayed for regulatory, manufacturing, or other reasons, may not be successful or replicate previous clinical trial results, may fail to demonstrate that our product candidates are safe and effective, or may not be predictive of real-world results or of results in subsequent clinical trials; risks that the potential benefits of the agreements with our collaboration partners may never be realized; risks that our products, and/or our product candidates may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; risks associated with government and third-party regulatory and/or policy efforts which may, among other things, impose sales and pharmaceutical pricing controls on our products or limit coverage and/or reimbursement for our products; risks associated with competition from other therapies or products, including potential generic entrants for our products; risks associated with our ability to manage the growth of our organization; and other risks described in our periodic reports filed with the Securities and Exchange Commission. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than as required by law.

TABLE 1

NEUROCRINE BIOSCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited, in millions, except per share data)

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Revenues:

Net product sales

$     954.3

$     682.0

$   1,765.3

$   1,245.7

Collaboration revenues

4.7

5.5

8.2

14.4

Total revenues

959.0

687.5

1,773.5

1,260.1

Operating expenses:

Cost of revenues, excluding amortization of acquired intangible assets

23.2

10.3

36.9

18.5

Research and development

326.7

244.3

622.9

507.5

Acquired in-process research and development

1.5

—

22.7

0.1

Selling, general, and administrative

439.7

286.3

758.2

562.8

Amortization of acquired intangible assets

16.4

1.0

16.5

2.0

Gain on sale of business, net of transaction costs

—

—

(28.6)

—

Total operating expenses

807.5

541.9

1,428.6

1,090.9

Operating income

151.5

145.6

344.9

169.2

Other income (expense):

Interest expense

(2.9)

—

(2.9)

—

Unrealized gain (loss) on equity investments

1.2

(6.7)

26.5

(37.3)

Investment income and other, net

12.4

20.6

40.5

42.3

Total other income (expense), net

10.7

13.9

64.1

5.0

Income before provision for income taxes

162.2

159.5

409.0

174.2

Provision for income taxes

17.8

52.0

66.7

58.8

Net income

$     144.4

$     107.5

$     342.3

$     115.4

Earnings per share, basic

$       1.43

$       1.09

$       3.40

$       1.16

Earnings per share, diluted

$       1.39

$       1.06

$       3.30

$       1.13

Weighted average common shares outstanding, basic

101.0

99.0

100.8

99.3

Weighted average common shares outstanding, diluted

104.2

101.0

103.8

101.8

TABLE 2

NEUROCRINE BIOSCIENCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions)

June 30,

2026

December 31,

2025

Cash, cash equivalents, and marketable securities

$        389.8

$      1,480.4

Accounts receivable

887.0

686.8

Inventory

104.2

69.0

Other current assets

256.5

286.5

Total current assets

1,637.5

2,522.7

Noncurrent inventory

149.1

—

Noncurrent marketable securities

91.9

1,063.0

Right-of-use assets

448.0

455.4

Equity investments

147.3

120.8

Property and equipment, net

90.5

89.8

Intangible assets, net

2,226.0

4.7

Goodwill

500.6

6.1

Deferred tax assets

8.9

320.3

Other noncurrent assets

59.3

48.7

Total assets

$      5,359.1

$      4,631.5

Total current liabilities

874.5

743.4

Deferred tax liabilities

91.5

—

Noncurrent operating lease liabilities

401.8

415.3

Other noncurrent liabilities

297.7

219.7

Stockholders' equity

3,693.6

3,253.1

Total liabilities and stockholders' equity

$      5,359.1

$      4,631.5

TABLE 3

NEUROCRINE BIOSCIENCES, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(unaudited, in millions, except per share data)

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

GAAP net income 1

$    144.4

$    107.5

$    342.3

$    115.4

Adjustments:

Stock-based compensation expense

65.0

52.8

122.2

105.6

Acceleration of stock-based compensation expense and related taxes 2

60.1

—

60.1

—

Acquisition-related employee compensation and severance costs

21.9

—

21.9

—

Amortization of inventory fair value step-up 3

3.0

—

3.0

—

Amortization of acquired intangible assets 4

16.4

1.0

16.5

2.0

Acquisition/divestiture-related transaction and integration costs

45.0

—

48.7

—

Gain on sale of business, net of transaction costs 5

—

—

(28.6)

—

Changes in fair values of equity investments 6

(1.2)

6.7

(26.5)

37.3

Other

0.7

0.8

1.3

2.3

Income tax effect related to reconciling items 7

(58.6)

(2.6)

(63.7)

(24.8)

Non-GAAP net income 1

$    296.7

$    166.2

$    497.2

$    237.8

Diluted earnings per share:

GAAP

$      1.39

$      1.06

$      3.30

$      1.13

Non-GAAP

$      2.85

$      1.65

$      4.79

$      2.34

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Cost of Revenues:

GAAP cost of revenues

$         23.2

$         10.3

$         36.9

$         18.5

Adjustments:

Acceleration of stock-based compensation expense and related taxes 2

1.8

—

1.8

—

Acquisition-related employee compensation and severance costs

0.2

—

0.2

—

Amortization of inventory fair value step-up 3

3.0

—

3.0

—

Non-GAAP cost of revenues

$         18.2

$         10.3

$         31.9

$         18.5

Research and Development:

GAAP R&D

$       326.7

$       244.3

$       622.9

$       507.5

Adjustments:

Stock-based compensation expense

27.5

21.6

51.7

44.6

Acceleration of stock-based compensation expense and related taxes 2

18.1

—

18.1

—

Acquisition-related employee compensation and severance costs

5.0

—

5.0

—

Non-GAAP R&D

$       276.1

$       222.7

$       548.1

$       462.9

Selling, General, and Administrative:

GAAP SG&A

$       439.7

$       286.3

$       758.2

$       562.8

Adjustments:

Stock-based compensation expense

37.5

31.2

70.5

61.0

Acceleration of stock-based compensation expense and related taxes 2

40.2

—

40.2

—

Acquisition-related employee compensation and severance costs

16.7

—

16.7

—

Acquisition/divestiture-related transaction and integration costs

39.9

—

43.6

—

Other

0.5

0.5

1.1

1.9

Non-GAAP SG&A

$       304.9

$       254.6

$       586.1

$       499.9

Amortization of Acquired Intangible Assets:

GAAP amortization of acquired intangible assets

$         16.4

$          1.0

$         16.5

$          2.0

Adjustments:

Amortization of acquired intangible assets 4

16.4

1.0

16.5

2.0

Non-GAAP amortization of acquired intangible assets

$          —

$          —

$          —

$          —

Gain on Sale of Business, Net of Transaction Costs:

GAAP gain on sale of business, net of transaction costs

$          —

$          —

$       (28.6)

$          —

Adjustments:

Gain on sale of business, net of transaction costs 5

—

—

(28.6)

—

Non-GAAP gain on sale of business, net of transaction costs

$          —

$          —

$          —

$          —

Other Income (Expense):

GAAP other income, net

$         10.7

$         13.9

$         64.1

$          5.0

Adjustments:

Changes in fair values of equity investments 6

(1.2)

6.7

(26.5)

37.3

Acquisition/divestiture-related transaction and integration costs

5.1

—

5.1

—

Other

0.2

0.3

0.2

0.4

Non-GAAP other income, net

$         14.8

$         20.9

$         42.9

$         42.7

1.

Includes the following expenses:

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Milestones (R&D)

$         0.3

$        15.1

$        22.9

$        60.5

Acquired in-process research and development (IPR&D)

$         1.5

$          —

$        22.7

$         0.1

2.

Relates to the acceleration of vesting of equity awards for Soleno employees which vested in full upon the closing of the transaction.

3.

Relates to amortization expense associated with recording approximately $168 million of VYKAT XR inventory fair value step-up.

4.

Primarily relates to amortization of acquired intangible assets associated with the recording of approximately $2.2 billion of intellectual property related to VYKAT XR, which will be amortized over 16 years.

5.

Reflects a pre-tax gain, net of transaction costs, recognized on the sale of Neurocrine Group Limited in January 2026.

6.

Reflects periodic fluctuations in the fair values of equity investments.

7.

Estimated income tax effect of Non-GAAP reconciling items are calculated using applicable statutory tax rates, taking into consideration any valuation allowance. In addition, Non-GAAP tax expense may also be affected by certain non-recurring, non-operating, or discrete tax items. 

SOURCE Neurocrine Biosciences, Inc.

Key Takeaways NBIX is expected to post Q2 revenues of $901.54 million and earnings of $2.26 per share.Neurocrine expects Ingrezza and Crenessity to support quarterly growth through demand and adoption.NBIX investors will watch pipeline updates and the integration of newly acquired Vykat XR. Neurocrine Biosciences (NBIX - Free Report) is scheduled to report second-quarter 2026 results on July 30, after market close. We expect investors to focus on the sales performance of NBIX’s marketed products and other pipeline updates when the company reports quarterly results.

The Zacks Consensus Estimate for second-quarter 2026 revenues is pegged at $901.54 million, while the same for earnings is pegged at $2.26 per share.

Over the past six months, shares of NBIX have risen 30.5% against the industry’s 4.1% decline.

Image Source: Zacks Investment Research

Let’s see how things might have shaped up for NBIX in the to-be-reported quarter.

Factors Likely to Influence NBIX’s Q2 ResultsNeurocrine’s top line primarily comprises product sales from Ingrezza and Crenessity with only a modest contribution from other revenue streams. Ingrezza, the company's flagship VMAT2 inhibitor, continues to anchor revenue growth with its leadership in the tardive dyskinesia market, while benefiting from its expanded indication in Huntington's disease chorea. Meanwhile, Crenessity is emerging as an important growth driver following its FDA approval in late 2024 for use as an adjunctive treatment for classic congenital adrenal hyperplasia (CAH) in adults and children aged four years and older.

We expect Ingrezza to sustain its solid commercial momentum in the upcoming quarter, supported by robust prescription demand. Management's reaffirmation of its full-year sales guidance of $2.7-$2.8 billion reflects continued confidence in the product's growth trajectory. Meanwhile, Crenessity is expected to deliver another quarter of sequential growth, driven by increasing physician adoption, expanding reimbursement coverage and rising patient uptake. Collectively, these products are likely to underpin Neurocrine's second-quarter commercial performance.

Beyond its commercial portfolio, investors are likely to focus on updates across Neurocrine's diversified neuroscience pipeline, which remains a key driver of the company's long-term growth strategy. Particular attention will be on the phase III development of direclidine for schizophrenia, alongside its mid-stage evaluation in bipolar mania, as well as the late-stage development of osavampator for major depressive disorder with cognitive impairment.

Investors will also look for updates on Crenessity's expansion, following the initiation of a phase II study in younger pediatric patients (less than four years) with classic CAH and the completion of enrollment in a separate phase II study in the European Union involving children from birth to under two years of age.

Another area of focus will be the Soleno Therapeutics acquisition, completed in May 2026. The transaction added Vykat XR (diazoxide choline), the first and only FDA-approved treatment for hyperphagia associated with Prader-Willi syndrome in adults and pediatric patients aged four years and older, to Neurocrine's commercial portfolio. Supported by patent protection extending into the mid-2040s, the acquisition is expected to strengthen the company's commercial platform and enhance its long-term growth profile.

Earnings Surprise HistoryNeurocrine has a mixed history of earnings surprises. The company’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, delivering an average surprise of 9.08%. In the last reported quarter, the company delivered an earnings surprise of 15.48%.

Earnings Whispers for NBIXOur proven model does not conclusively predict an earnings beat for NBIX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Earnings ESP: Neurocrine has an Earnings ESP of -7.61% as the Most Accurate Estimate currently stands at $2.08 per share and the Zacks Consensus Estimate of earnings is pegged at $2.26.

Zacks Rank: Neurocrine currently carries a Zacks Rank #2.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to ConsiderHere are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.

Harmony Biosciences (HRMY - Free Report) has an Earnings ESP of +14.14% and sports a Zacks Rank #1 at present.

Shares of HRMY have lost 4.2% over the past six months. The company’s earnings missed estimates in each of the trailing four quarters, delivering a negative average surprise of 25.16%.

ACADIA Pharmaceuticals (ACAD - Free Report) has an Earnings ESP of +25.00% and carries a Zacks Rank #2 at present.

Shares of ACAD have lost 3.1% over the past six months. The company’s earnings beat estimates in three of the trailing four quarters but missed in the remaining quarter, delivering an average surprise of 20.83%.

Agios Pharmaceuticals (AGIO - Free Report) has an Earnings ESP of +12.67% and holds a Zacks Rank #3 at present.

Shares of AGIO have risen 28.4% over the past six months. The company’s earnings beat estimates in three of the trailing four quarters but missed in the remaining quarter, delivering an average surprise of 2.39%.

Wall Street expects a year-over-year increase in earnings on higher revenues when Neurocrine Biosciences (NBIX - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis biopharmaceutical company is expected to post quarterly earnings of $2.24 per share in its upcoming report, which represents a year-over-year change of +111.3%.

Revenues are expected to be $894.32 million, up 30.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Neurocrine?For Neurocrine, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +3.77%.

On the other hand, the stock currently carries a Zacks Rank of #1.

So, this combination indicates that Neurocrine will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Neurocrine would post earnings of $1.68 per share when it actually produced earnings of $1.94, delivering a surprise of +15.48%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Neurocrine appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Medical - Drugs industry, Ionis Pharmaceuticals (IONS - Free Report) , is soon expected to post loss of $0.91 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of -205.8%. Revenues for the quarter are expected to be $189.93 million, down 58% from the year-ago quarter.

The consensus EPS estimate for Ionis Pharmaceuticals has been revised 4.1% lower over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +3.30%.

This Earnings ESP, combined with its Zacks Rank #4 (Sell), makes it difficult to conclusively predict that Ionis Pharmaceuticals will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

, /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced the appointment of Samir Siddhanti as Chief Business Officer and a member of the company's executive Management Committee.

As Chief Business Officer, Siddhanti will lead Neurocrine's enterprise growth strategy, overseeing business development, corporate strategy, alliance management and program management to maximize the value of the company's expanding pipeline through both internal innovation and strategic external opportunities.

Since joining Neurocrine in 2017, Siddhanti has assumed leadership roles of increasing responsibility across business development, alliance management and corporate strategy. Most recently serving as Vice President, Business Development, he has led numerous strategic transactions and partnerships that have expanded Neurocrine's pipeline and commercial portfolio, including the company's recent $2.9 billion acquisition of Soleno Therapeutics. He also serves as Program Team Leader for direclidine, providing strategic leadership for the program's development in schizophrenia and bipolar disorder, while helping shape the company's broader muscarinic portfolio strategy.

Siddhanti's unique combination of strategic, transactional and development leadership reflects Neurocrine's integrated approach to building a differentiated biotechnology company and positions him well to help drive the company's next phase of growth.

"Throughout his tenure, Samir has become one of the company's key leaders, helping shape Neurocrine's long-term growth strategy through disciplined portfolio prioritization, thoughtful capital allocation and the execution of transformative business development initiatives," said Kyle W. Gano, Ph.D., Chief Executive Officer, Neurocrine Biosciences. "As he steps into this expanded role, I look forward to his continued leadership as we advance our pipeline, pursue new opportunities and work to bring meaningful new therapies to patients with great needs."

"I've had the privilege of working alongside exceptional colleagues throughout my time at Neurocrine, and I'm honored by the opportunity to serve as Chief Business Officer," Siddhanti said. "I'm grateful for the trust Kyle and the leadership team have placed in me. What makes Neurocrine special is our people, our science and our shared commitment to improving patients' lives. I look forward to continuing to work across the organization to execute our strategy, strengthen our pipeline and help bring meaningful new medicines to patients."

Prior to joining Neurocrine, Siddhanti was a member of the biotechnology equity research team at Goldman Sachs. He holds Bachelor of Science and Master of Science degrees in Management Science and Engineering from Stanford University.

About Neurocrine Biosciences
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)

NEUROCRINE, the NEUROCRINE BIOSCIENCES Logo, and YOU DESERVE BRAVE SCIENCE, are registered trademarks of Neurocrine Biosciences, Inc.

Forward-Looking Statements

In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the Company's ability to execute its growth strategy, maximize the value of its pipeline and commercial portfolio through internal innovation and strategic and external opportunities, and bring meaningful new therapies to patients. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: challenges associated with organizational changes and the Company's ability to effectively execute its strategic priorities; risks and uncertainties associated with Neurocrine Biosciences' business and finances in general; risks and uncertainties associated with the commercialization of our products; risks related to our ability to realize the anticipated benefits of the acquisition of Soleno Therapeutics, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period and that we will not be able to integrate Soleno Therapeutics' business successfully or that such integration may be more difficult, time-consuming or costly than expected; risks related to the development of our product candidates; risks associated with our dependence on third parties for development, manufacturing, and commercialization activities for our products and product candidates, and our ability to manage these third parties; risks that the FDA or other regulatory authorities may make adverse decisions regarding our products or product candidates; risks that development activities may not be initiated or completed on time or at all, or may be delayed for regulatory, manufacturing, or other reasons, may not be successful or replicate previous clinical trial results, may fail to demonstrate that our product candidates are safe and effective, or may not be predictive of real-world results or of results in subsequent clinical trials; risks that the potential benefits of the agreements with our collaboration partners may never be realized; risks that our products, and/or our product candidates may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; risks associated with government and third-party regulatory and/or policy efforts which may, among other things, impose sales and pharmaceutical pricing controls on our products or limit coverage and/or reimbursement for our products; risks associated with competition from other therapies or products, including potential generic entrants for our products; risks associated with our ability to manage the growth of our organization; and other risks described in our periodic reports filed with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than as required by law.

© 2026 Neurocrine Biosciences, Inc. All Rights Reserved

SOURCE Neurocrine Biosciences, Inc.

Neurocrine Biosciences (NBIX - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.

The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this biopharmaceutical company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.

Consensus earnings estimates for the next quarter and full year have moved considerably higher for Neurocrine Biosciences, as there has been strong agreement among the covering analysts in raising estimates.

The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:

12 Month EPS

Current-Quarter Estimate RevisionsThe earnings estimate of $2.25 per share for the current quarter represents a change of +112.3% from the number reported a year ago.

Over the last 30 days, two estimates have moved higher for Neurocrine compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 6.07%.

Current-Year Estimate RevisionsThe company is expected to earn $9.48 per share for the full year, which represents a change of +48.4% from the prior-year number.

In terms of estimate revisions, the trend for the current year also appears quite encouraging for Neurocrine. Over the past month, two estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 5.05%.

Favorable Zacks RankThanks to promising estimate revisions, Neurocrine currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.

Bottom LineNeurocrine shares have added 9.2% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.