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Insider selling: $89,737,496 sold by 19 insiders (30d)
Est. revisions:
+0.1%
Backed by structured data (insider trades, analyst ratings, or filings)
Factor Model (net -1.2)
Factor Model
net -1.2 2.3 / 10
Est. Revisions
+0.0
Insider Activity
+0.0
Momentum
+0.0
Analyst Rev.
-1.0
Narrative Gap
+0.0
Truist cuts target 17% on 2026 outlook caution
Watch: Watch NBIX's next earnings call for 2026 sales trajectory and INGREZZA's competitive positioning. A slowdown below 15% growth could trigger further downside; sustained 15-20% growth would validate the Buy thesis at the new target.
Truist Securities trimmed its NBIX price target from $169 to $140 on February 17, citing the company's 2026 guidance following strong 2025 results. Neurocrine posted Q4 net product sales of $798.3M, up 29% YoY, and full-year 2025 revenue of $2.83B, up 22% YoY — solid organic growth driven by INGREZZA's $2.51B in annual sales, up 9%. The analyst maintained a Buy rating despite the 17% target reduction, suggesting conviction in the long-term story but caution on near-term valuation or execution risk.
The target cut reflects realistic repricing after a strong 2025 run — when growth slows from 22% to lower levels (as 2026 guidance implies), the stock's premium valuation compresses. However, keeping a Buy rating signals Truist still sees upside, meaning the new target likely reflects a balanced risk-reward rather than fundamental deterioration. The 2026 outlook is the inflection point: if guidance holds at mid-teens growth, NBIX can defend its position as a specialty biotech cash cow.
Evidence
6d ago
Insider sell by GORMAN KEVIN CHARLES (NBIX): $21,836,503
6d ago
Insider sell by GORMAN KEVIN CHARLES (NBIX): $13,440,281
13d ago
Stocks making the biggest moves premarket: Netflix, Soleno Therapeutics, Strategy & more
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45d ago
Truist Lowers Neurocrine Biosciences, Inc.’s (NBIX) PT Following 2026 Outlook Update
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Fundamentals & Data ▾
Neurocrine Biosciences, Inc.
Healthcare · Drug Manufacturers - Specialty & Generic
Mkt Cap
$13B
P/E
27.0 fwd 14.8
Beta
0.35
52w Range
$92.31 - $160.18
Short Interest
3.9M 5.11%
Days to Cover
3.6 +22%
Technicals
downtrend
from 52w Hi
0.0%
1w return
+3.4%
Insiders
selling
0B / 11S
EPS Estimate
$1.73
+0.1% 30d
0up / 3dn
Est. Dispersion
44%
13 analysts
Analyst Target
$186
$140 - $251
Options P/C
0.97
Insider Cluster
strong sell
0B / 12S
Fund Convergence
strong
Renaissance, D.E. Shaw, Two Sigma, Bridgewater, Citadel
Financials
Revenue
$806M +28% YoY
FCF
$391M
Gross Margin
98%
Op Margin
28%
Momentum:
decelerating
Top Holders
Renaissance
$318M
D.E. Shaw
$247M
Two Sigma
$120M
Bridgewater
$21M
Citadel
$16M
Recent Filings & Data
insider trade
146
net selling
· $89,737,496 sold
19 insiders · 146 transactions (30d)
Recent transactions
ONYIA JUDE · other
ABERNETHY MATTHEW C · other
ONYIA JUDE · other
COOKE JULIE SMITH · award
COOKE JULIE SMITH · other
BOYER DAVID WARREN · award
BOYER DAVID WARREN · other
ONYIA JUDE · award
ONYIA JUDE · other
DELAET INGRID · award
DELAET INGRID · other
LIPPOLDT DARIN M · award
LIPPOLDT DARIN M · other
LIPPOLDT DARIN M · other
GANO KYLE W · award
GANO KYLE W · other
BENEVICH ERIC S. · award
BENEVICH ERIC S. · other
ABERNETHY MATTHEW C · award
ABERNETHY MATTHEW C · other
GORMAN KEVIN CHARLES · award
GORMAN KEVIN CHARLES · other
COOKE JULIE SMITH · other
BOYER DAVID WARREN · other
ONYIA JUDE · other
DELAET INGRID · other
LIPPOLDT DARIN M · other
GANO KYLE W · other
BENEVICH ERIC S. · other
ABERNETHY MATTHEW C · other
GORMAN KEVIN CHARLES · other
GANO KYLE W · sell · $4,830,458
GANO KYLE W · exercise · $1,310,036
LIPPOLDT DARIN M · exercise · $120,531
NORWALK LESLIE V · sell · $945,702
NORWALK LESLIE V · exercise · $910,742
LIPPOLDT DARIN M · sell · $698,615
LIPPOLDT DARIN M · exercise · $189,218
LYONS GARY A · sell · $2,289,082
LYONS GARY A · exercise · $718,350
ONYIA JUDE · other
BENEVICH ERIC S. · sell · $905,881
BENEVICH ERIC S. · exercise · $214,860
BENEVICH ERIC S. · exercise · $461,752
MORROW GEORGE J · sell · $2,150,512
MORROW GEORGE J · exercise · $718,350
RASTETTER WILLIAM H · sell · $2,732,690
RASTETTER WILLIAM H · exercise · $862,020
GANO KYLE W · sell · $42,591
GANO KYLE W · other
ONYIA JUDE · other
SHERWIN STEPHEN A · other
GORMAN KEVIN CHARLES · sell · $13,440,281
GORMAN KEVIN CHARLES · exercise · $3,826,529
ONYIA JUDE · other
DELAET INGRID · sell · $61,695
DELAET INGRID · exercise · $36,112
ONYIA JUDE · sell · $7,803,688
ONYIA JUDE · exercise · $5,069,062
ONYIA JUDE · sell · $2,649,738
ONYIA JUDE · exercise · $1,725,476
GORMAN KEVIN CHARLES · sell · $1,157,211
MORROW GEORGE J · other
RASTETTER WILLIAM H · other
LYONS GARY A · other
SHERWIN STEPHEN A · other
POPS RICHARD F · other
POON CHRISTINE A · other
MERCIER JOHANNA · other
NORWALK LESLIE V · other
SHARP SHALINI · other
COOKE JULIE SMITH · exercise · $399,852
RASTETTER WILLIAM H · sell · $3,305,952
RASTETTER WILLIAM H · exercise · $1,282,800
ROBERTS EIRY WYN · sell · $258,264
SHERWIN STEPHEN A · sell · $1,613,923
ROBERTS EIRY WYN · other
COOKE JULIE SMITH · sell · $181,129
COOKE JULIE SMITH · other
BOYER DAVID WARREN · sell · $208,387
BOYER DAVID WARREN · other
ONYIA JUDE · sell · $336,239
DELAET INGRID · sell · $171,674
DELAET INGRID · other
LIPPOLDT DARIN M · sell · $254,992
LIPPOLDT DARIN M · other
GANO KYLE W · sell · $298,908
GANO KYLE W · other
BENEVICH ERIC S. · sell · $251,428
BENEVICH ERIC S. · other
ABERNETHY MATTHEW C · sell · $298,923
ABERNETHY MATTHEW C · other
GORMAN KEVIN CHARLES · sell · $681,914
GORMAN KEVIN CHARLES · other
LIPPOLDT DARIN M · other
ROBERTS EIRY WYN · sell · $115,853
COOKE JULIE SMITH · sell · $82,792
BOYER DAVID WARREN · sell · $82,820
LIPPOLDT DARIN M · sell · $107,727
GANO KYLE W · sell · $116,020
BENEVICH ERIC S. · sell · $115,940
ABERNETHY MATTHEW C · sell · $115,909
GORMAN KEVIN CHARLES · sell · $269,167
ROBERTS EIRY WYN · other
COOKE JULIE SMITH · other
BOYER DAVID WARREN · other
LIPPOLDT DARIN M · other
GANO KYLE W · other
BENEVICH ERIC S. · other
ABERNETHY MATTHEW C · other
GORMAN KEVIN CHARLES · other
DELAET INGRID · sell · $157,594
DELAET INGRID · other
ROBERTS EIRY WYN · sell · $222,636
ROBERTS EIRY WYN · other
COOKE JULIE SMITH · sell · $266,025
COOKE JULIE SMITH · other
BOYER DAVID WARREN · sell · $168,849
ONYIA JUDE · sell · $19,274
LIPPOLDT DARIN M · sell · $191,133
GANO KYLE W · sell · $235,577
BENEVICH ERIC S. · sell · $184,599
ABERNETHY MATTHEW C · sell · $196,136
ABERNETHY MATTHEW C · other
GORMAN KEVIN CHARLES · sell · $413,967
GORMAN KEVIN CHARLES · other
GORMAN KEVIN CHARLES · sell · $21,836,503
GORMAN KEVIN CHARLES · exercise · $4,820,004
GANO KYLE W · sell · $9,197,550
GANO KYLE W · exercise · $2,144,350
DELAET INGRID · sell · $37,563
DELAET INGRID · exercise · $21,493
DELAET INGRID · sell · $147,285
DELAET INGRID · exercise · $86,211
ONYIA JUDE · sell · $294,373
ROBERTS EIRY WYN · exercise · $599,873
SHERWIN STEPHEN A · other
BOYER DAVID WARREN · sell · $147,190
BOYER DAVID WARREN · sell · $421,828
RASTETTER WILLIAM H · sell · $2,090,332
LYONS GARY A · sell · $1,740,450
LYONS GARY A · exercise · $494,733
DELAET INGRID · sell · $1,072,180
DELAET INGRID · exercise · $315,011
ABERNETHY MATTHEW C · sell · $2,120,347
ABERNETHY MATTHEW C · exercise · $1,037,760
5 signals · latest 6d ago
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