Why Neurocrine Biosciences (NBIX) Stock Is Down Today

Neurocrine Biosciences (NBIX) is down 3.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely explanation is investor profit-taking and a reset in expectations after Neurocrine’s late-July earnings release. The company posted strong revenue growth and raised INGREZZA sales guidance, but it also lifted spending outlooks, and the market may be focusing on higher operating costs and the balance-sheet impact of its Soleno acquisition.

Details:

Neurocrine’s second-quarter 2026 revenue rose 39% year over year to $959 million, helped by growth from INGREZZA, CRENESSITY, and the newly added VYKAT XR portfolio.

The company raised 2026 INGREZZA net sales guidance to a range of $2.825 billion to $2.875 billion, showing continued confidence in its largest product.

At the same time, Neurocrine increased full-year R&D and SG&A expense guidance, which can pressure sentiment when investors start modeling future margins.

Cash, cash equivalents, and marketable securities fell to about $482 million at June 30, 2026, while the company also highlighted the May 2026 close of the Soleno deal and a new $1.0 billion revolving credit facility, factors that may be keeping attention on integration risk and capital allocation.

Sources:

Neurocrine Biosciences, SEC, Benzinga

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$NBIX Insider Trading Activity

$NBIX insiders have traded $NBIX stock on the open market 27 times in the past 6 months. Of those trades, 0 have been purchases and 27 have been sales.

Here’s a breakdown of recent trading of $NBIX stock by insiders over the last 6 months:

KEVIN CHARLES GORMAN sold 245,088 shares for an estimated $37,824,872
JULIE COOKE (Chief Human Resources Officer) has made 0 purchases and 5 sales selling 36,937 shares for an estimated $5,770,235.
STEPHEN A SHERWIN has made 0 purchases and 5 sales selling 25,000 shares for an estimated $4,132,968.
INGRID DELAET (Chief Regulatory Officer) has made 0 purchases and 5 sales selling 21,199 shares for an estimated $3,747,947.
DARIN LIPPOLDT (Chief Legal Officer) has made 0 purchases and 4 sales selling 20,000 shares for an estimated $3,497,506.
JUDE ONYIA (Chief Scientific Officer) has made 0 purchases and 2 sales selling 22,000 shares for an estimated $3,473,575.
RICHARD F POPS sold 15,000 shares for an estimated $2,364,760
LESLIE V NORWALK has made 0 purchases and 3 sales selling 6,310 shares for an estimated $1,028,180.
DAVID W. BOYER (Chief Corp. Affairs Officer) sold 3,888 shares for an estimated $609,023

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$NBIX Hedge Fund Activity

We have seen 435 institutional investors add shares of $NBIX stock to their portfolio, and 327 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO added 6,398,674 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,078,400,522
TWO SIGMA INVESTMENTS, LP added 2,075,759 shares (+210.8%) to their portfolio in Q1 2026, for an estimated $273,460,490
PRICE T ROWE ASSOCIATES INC /MD/ removed 1,720,984 shares (-91.9%) from their portfolio in Q1 2026, for an estimated $226,722,432
BELLEVUE GROUP AG removed 1,698,658 shares (-99.7%) from their portfolio in Q1 2026, for an estimated $223,781,204
AQR CAPITAL MANAGEMENT LLC added 1,667,261 shares (+51.0%) to their portfolio in Q1 2026, for an estimated $219,644,964
VESTAL POINT CAPITAL, LP added 1,250,000 shares (+inf%) to their portfolio in Q1 2026, for an estimated $164,675,000
MILLENNIUM MANAGEMENT LLC added 804,581 shares (+181.7%) to their portfolio in Q1 2026, for an estimated $105,995,500

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$NBIX Price Targets

Multiple analysts have issued price targets for $NBIX recently. We have seen 15 analysts offer price targets for $NBIX in the last 6 months, with a median target of $191.0.

Here are some recent targets:

Brian Abrahams from RBC Capital set a target price of $195.0 on 07/07/2026
Corinne Johnson from Goldman Sachs set a target price of $213.0 on 06/02/2026
Jeffrey Walch from Bernstein set a target price of $221.0 on 05/22/2026
Anupam Rama from JP Morgan set a target price of $185.0 on 05/08/2026
Danielle Brill from Truist Securities set a target price of $155.0 on 05/07/2026
Yatin Suneja from Guggenheim set a target price of $175.0 on 05/06/2026
Jeffrey Hung from Morgan Stanley set a target price of $191.0 on 05/06/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.