Neurocrine Biosciences Inc. Common Stock (NBIX)

FairStock Score: 64/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Mr. Market is offering Neurocrine at $135.13 as of the 2026-10-13 close, a $13.7B specialty pharmaceutical business. I like the product portfolio: INGREZZA and related neurological and psychiatric treatments give it approved brands, physician relationships, and regulatory barriers — not a wide moat, but a real one. The filed numbers show momentum: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $959.0M and net income $144.4M, versus fiscal Q2 2025, the quarter ended 2025-06-30, revenue of $687.5M and net income of $107.5M. For fiscal year 2025, the period ended 2025-12-31, revenue was $2.9B, net income $478.6M, and diluted EPS $4.67, up from fiscal year 2024, the period ended 2024-12-31, revenue $2.4B, net income $341.3M, and EPS $3.29. The balance sheet is conservative, with D/E of 0.12 and an Altman Z-Score of 5.58, and the business produced $870.4M of trailing twelve-month free cash flow, a 6.3% FCF yield. ROE is 22.09%, though ROCE of 11.70% is only decent. Valuation is the rub. At the 2026-10-13 close, FairStock's P/E is 19.76, P/B is 3.72, and PEG is 0.58, which looks reasonable for the recent growth. But the Graham Number is $74.79, leaving a margin of safety of -80.68%; I am paying a large premium to a conservative asset-based value. The Piotroski F-Score is 4/9, and FairStock classifies it as a SLOW GROWER because five-year profit growth was 3.3% annually even though revenue grew 22.3%. So I see a good business with recent acceleration, but not a bargain by Graham's arithmetic. I would want continued earnings and cash flow proof before calling the price comfortable.

In plain English: Neurocrine makes medicines for brain, nerve, and hormone-related conditions. The business looks strong: sales and profits grew quickly in the latest reported quarter and full year, it generates plenty of cash, and debt is low. The share price is not a steal by the strictest old-school value measure, but it looks about fair for a growing drugmaker rather than wildly expensive.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer