Neurocrine Biosciences Stock Drops 9.3% After Analyst Downgrade

Needham & Company lowered its price target on the biopharmaceutical company's stock.

Published on Feb. 12, 2026

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Neurocrine Biosciences, Inc. (NASDAQ:NBIX) saw its stock price drop 9.3% on Thursday after Needham & Company LLC lowered its price target on the stock from $187.00 to $185.00, though the firm maintained its 'buy' rating. The stock traded as low as $123.00 and closed at $124.60, with trading volume declining 27% from the average daily volume.

Why it matters

Neurocrine Biosciences is a prominent biopharmaceutical company focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. The stock price drop following the analyst downgrade reflects investor concerns about the company's near-term prospects, even as the firm maintains a 'buy' rating on the stock.

The details

Needham & Company cited the lower price target in its research note, though the firm still has a 'buy' rating on Neurocrine Biosciences. Several other analysts have also recently commented on the stock, with some lowering their price targets while others have raised them. The company's lead marketed product is Ingrezza, which is indicated for the treatment of tardive dyskinesia.

  • Neurocrine Biosciences' stock price dropped 9.3% on Thursday, February 12, 2026.

The players

Neurocrine Biosciences, Inc.

A biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders.

Needham & Company LLC

An investment banking and asset management firm that lowered its price target on Neurocrine Biosciences' stock.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

The stock price drop for Neurocrine Biosciences highlights the volatility and uncertainty that can impact biopharmaceutical companies, even those with promising drug candidates and market-leading products. Investors will be closely watching the company's future developments and analyst commentary as it navigates the competitive landscape for neurological and psychiatric treatments.