NEUROCRINE BIOSCIENCES INC (NBIX)

Biological Products, (No Diagnostic Substances)

Latest Price

$157.22

TTM P/E

23.02

Normalized P/E

50.88

Div Yield

Book Value

36.64

P/B Ratio

4.29

Valuation metrics

EPS: $4.67

Book value / share: $32.50

Formula: √(22.5 × EPS × BVPS)

Graham Number

$58.44

63% downside

Norm. op. income: $249M (median of 7yr)

Tax rate: 26%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$29.16

81% downside

Base FCF: $362M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$279.67

+78% upside

EPS: $4.67

Target P/E: 51×

Formula: EPS × P/E

P/E Fair Value

$238.17

+51% upside

98.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	13.71M	$2.31B	13.50%	+326.0K	2026-06-30
JPMORGAN CHASE & CO	6.40M	$1.09B	6.30%	+1.20M	2026-06-30
Dodge & Cox	5.58M	$941.0M	5.50%	+123.7K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	4.97M	$838.0M	4.90%	+247.7K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	4.55M	$766.0M	4.47%	+33.4K	2026-06-30
STATE STREET CORP	4.39M	$739.0M	4.32%	+31.1K	2026-06-30
AQR CAPITAL MANAGEMENT LLC	3.82M	$643.0M	3.76%	-1.12M	2026-06-30
RENAISSANCE TECHNOLOGIES LLC	2.34M	$393.0M	2.30%	-83.0K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	2.14M	$359.0M	2.11%	+2.1K	2026-06-30
TWO SIGMA INVESTMENTS, LP	2.08M	$349.0M	2.04%	--	2026-06-30