Neurocrine Biosciences (NASDAQ:NBIX) Shares Gap Up on Analyst Upgrade

Key Points

• Wedbush upgrade drove a pre-market gap — the firm raised its price target to $176 (from $166) and kept an "outperform" rating, helping NBIX open around $148.98 versus the prior close of $135.06 and trade up roughly 6.9%.
• Q1 beat and commercial momentum: Neurocrine reported stronger-than-expected Q1 results with revenue near $814.5M and INGREZZA sales cited as the main growth driver, and it announced an agreement to acquire Soleno Therapeutics (adding VYKAT™ XR), expected to close in Q2 2026.
• Analyst and institutional backdrop: The stock carries a consensus "Moderate Buy" with an average price target of about $180.95, while institutional investors own roughly 92.6% of the shares.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report)'s share price gapped up before the market opened on Wednesday after Wedbush raised their price target on the stock from $166.00 to $176.00. The stock had previously closed at $135.06, but opened at $148.98. Wedbush currently has an outperform rating on the stock. Neurocrine Biosciences shares last traded at $144.88, with a volume of 410,731 shares changing hands.

A number of other brokerages have also weighed in on NBIX. Morgan Stanley raised their price objective on Neurocrine Biosciences from $173.00 to $185.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. Royal Bank Of Canada cut their price objective on Neurocrine Biosciences from $180.00 to $177.00 and set an "outperform" rating for the company in a research report on Thursday, February 12th. Zacks Research upgraded Neurocrine Biosciences from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Finally, Leerink Partners raised their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average price target of $180.95.

More Neurocrine Biosciences News

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Q1 beat and record quarter: NBIX reported Q1 EPS of $1.94 vs. consensus $1.68 and revenue of ~$814.5M (above estimates), citing continued commercial momentum. The strong top‑line (INGREZZA) and margin progress underpin the positive reaction. MarketBeat Q1 Release
• Positive Sentiment: INGREZZA sales highlighted as the growth driver and cited in coverage of the stock surge after the results, supporting confidence in 2026 guidance. Investing.com Article
• Positive Sentiment: Acquisition announced: Neurocrine entered a definitive agreement to acquire Soleno Therapeutics, adding VYKAT™ XR (for hyperphagia in Prader‑Willi syndrome), expanding the company’s rare‑disease franchise and diversification. Expected close in Q2 2026. PR Newswire Q1 Release
• Positive Sentiment: Analyst upgrade/price target lift: Wedbush raised its price target to $176 from $166 and maintained an “outperform” rating, signaling analyst conviction that there’s meaningful upside vs. current levels. Benzinga
• Positive Sentiment: Clinical/supporting data publication: Expert recommendations to reduce glucocorticoid dosing after initiating CRENESSITY (crinecerfont) were published in The Journal of Clinical Endocrinology & Metabolism, which may ease adoption and optimize use in classic CAH. PR Newswire CRENESSITY
• Neutral Sentiment: Investor engagement: Management will present at the Bank of America Health Care Conference on May 12, providing another forum for guidance clarity and pipeline updates. PR Newswire Conference
• Neutral Sentiment: Transcripts & analyst notes available: The full earnings call transcript and analyst summaries are circulating (Seeking Alpha, TipRanks, Zacks), useful for investors wanting line‑by‑line management commentary on growth drivers and 2027 outlook. Seeking Alpha Transcript
• Neutral Sentiment: Analyst consensus: Aggregators still show a generally positive analyst stance (average “Moderate Buy”), which supports further interest but not a unanimous bullish view. American Banking News

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nilsine Partners LLC bought a new stake in Neurocrine Biosciences in the fourth quarter worth about $1,197,000. Ruffer LLP bought a new stake in Neurocrine Biosciences in the fourth quarter worth about $2,479,000. Robeco Institutional Asset Management B.V. lifted its stake in Neurocrine Biosciences by 86.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 28,185 shares of the company's stock worth $3,957,000 after purchasing an additional 13,087 shares during the last quarter. Korea Investment CORP lifted its stake in Neurocrine Biosciences by 94.3% in the third quarter. Korea Investment CORP now owns 71,689 shares of the company's stock worth $10,064,000 after purchasing an additional 34,800 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company's stock worth $1,120,000 after purchasing an additional 7,935 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 6.9%

The firm has a market cap of $14.52 billion, a P/E ratio of 30.90, a P/E/G ratio of 0.67 and a beta of 0.34. The company's 50 day simple moving average is $130.37 and its 200-day simple moving average is $137.72.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). The firm had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm's revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.69 EPS. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 6.57 EPS for the current year.

Neurocrine Biosciences Company Profile

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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