INGREZZA and CRENESSITY Sales Beat Might Change the Case for Investing in Neurocrine Biosciences (NBIX)

• Neurocrine Biosciences reported its third-quarter 2025 financial results, achieving revenue of US$794.9 million and net income of US$209.5 million, both surpassing prior-year figures and analyst forecasts.
• A key insight from the quarter is that strong sales growth in INGREZZA and CRENESSITY, coupled with promising progress in late-stage clinical trials, reflects ongoing momentum in both product demand and the company's research pipeline.
• We'll assess how this earnings beat, driven by INGREZZA and CRENESSITY sales, impacts the longer-term investment narrative for Neurocrine Biosciences.

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Neurocrine Biosciences Investment Narrative Recap

To own shares in Neurocrine Biosciences, investors need to believe that its leadership in neuroscience medicines, particularly INGREZZA and CRENESSITY sales, can offset pricing pressures and payer scrutiny, while the pipeline continues to deliver. The recent Q3 earnings beat strengthens optimism about near-term demand and supports the biggest current catalyst: continued prescription growth. However, the news does not materially alleviate the key risk of portfolio concentration, especially with future competitive threats or regulatory setbacks possible.

Of the recent announcements, the new post-hoc analysis from the Phase 3 KINECT-4 study is especially relevant, underscoring clinically meaningful gains for patients treated with INGREZZA over 48 weeks. This supports confidence in Neurocrine’s flagship product as the company looks to sustain volume growth and defend its market position, keeping INGREZZA at the center of its narrative for now.

Yet, in contrast, there remains an important consideration for investors regarding growing payer scrutiny and...

Read the full narrative on Neurocrine Biosciences (it's free!)

Neurocrine Biosciences' narrative projects $3.8 billion in revenue and $976.5 million in earnings by 2028. This requires a 14.6% yearly revenue growth and an increase in earnings of $628 million from the current $348.3 million.

Uncover how Neurocrine Biosciences' forecasts yield a $169.95 fair value, a 23% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members provided five fair value estimates for Neurocrine Biosciences, spanning US$118.58 to US$252.46. Opinion is split, while analyst consensus highlights portfolio concentration risk that could impact future performance if new products or pipeline advances stall.

Explore 5 other fair value estimates on Neurocrine Biosciences - why the stock might be worth as much as 83% more than the current price!

Build Your Own Neurocrine Biosciences Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Neurocrine Biosciences research is our analysis highlighting 4 key rewards that could impact your investment decision.
• Our free Neurocrine Biosciences research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Neurocrine Biosciences' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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