CluenexNeurocrine Biosciences NBIX
Neurocrine Biosciences scores excellent on business quality (9.0 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Neurocrine Biosciences does
Neurocrine Biosciences develops and commercializes pharmaceutical treatments for neurological and endocrine disorders, generating revenue primarily from specialized therapies like Ingrezza paid by healthcare providers and insurers. The company is expanding its clinical pipeline with research into conditions like Prader-Willi syndrome and new formulations such as VYKAT XR.
- What it does best
Neurocrine delivers exceptional gross margins of 98.0%, outperforming peers like Alnylam at 79.7%, driven by proprietary neuroscience assets that command high pricing power and low manufacturing friction.
- The main risk
Pipeline setbacks remain the primary risk, as clinical trial failures or regulatory delays for pipeline assets like VYKAT XR can instantly compress future revenue expansion.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins sit at 23.9% with an FCF margin in the top quartile of its sector, showing scalable conversion as revenue expands.
A top-decile gross margin of 98.0% and strong IP protect its neuroscience franchise, locking in specialists and patients through hard-to-replicate clinical formulations.
Revenue grows at a 21.4% rate, powered by core neuroscience treatments and sitting in the top decile of its sector for growth.
Zero total debt and $1.5 billion in cash anchor an elite balance sheet, backed by $870 million in free cash flow and a 278x interest coverage ratio.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on NBIX
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Neurocrine Biosciences scores excellent on the Cluenex quality check (9.0 of 10), measured against its own industry. Profitability is strong, moat strong, growth fast and financial health strong.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Nov 3, 2026.
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Cite this page: Cluenex, “Neurocrine Biosciences (NBIX)”, https://cluenex.com/stocks/nbix/, data as of Oct 10, 2026.