What changed
$NBIX — ADD 📊
Neurocrine Biosciences, Inc.
🎯 Q1 FY26 | Rev $1B | EPS $1.94 vs $1.70 🟢
💡 Consensus is fixated on depressed FY guidance of $2.70-2.80 adj EPS, but Q1 alone generated $1.94. We believe pro-forma normalized EPS exceeding $6 is achievable, making the stock mispriced at current levels relative to its growth.
📉 Reward/Risk: 2.4:1
🏢 Business Quality: 8/10 - Established blockbuster franchise (Ingrezza) with durable patents, expanding pipeline, and recent strategic acquisition to broaden rare disease portfolio.
📊 Valuation: fair - On near-term guidance, P/E 57x appears rich, but on our normalized EPS of $6-7, P/E 22-26x, in line with peers.
🔮 Catalyst: FY guidance raise likely during Q2 earnings or at upcoming medical conferences
💰 Entry: $158.29, stop $145.0, target $190.0
📊 Our read: ADD. Full analysis →
https://stockduty.xyz/s/NBIX0619