Deerfield Management NBIX Position
Active9-Fund ConvergenceDeerfield Management held their position in Neurocrine Biosciences Inc. (NBIX) in Q4 2025, holding $168.0M worth of shares across 1,184,345 shares.
The position was first reported in Q1 2023 and has been tracked across 12 quarterly 13F filings.
NBIX is a convergence signal: 9 specialist biotech funds hold this stock, suggesting high institutional conviction.
There is an upcoming Phase 3 readout for Valbenazine in 14 days (Apr 30, 2026), making the timing of Deerfield's position particularly relevant.
About Neurocrine Biosciences Inc.
Neurocrine Biosciences, Inc. discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas. Its lead asset is INGREZZA, a VMAT2 inhibitor for the treatment of tardive dyskinesia. The company's commercial products include ONGENTYS, a catechol-O-methyltransferase inhibitor used as an adjunct therapy to levodopa/DOPA decarboxylase inhibitors for patients with Parkinson's disease; ORILISSA for the management of moderate to severe endometriosis pain in women; and ORIAHNN, a non-surgical oral medication option for the management of heavy menstrual bleeding associated with uterine fibroids in pre-menopausal women. Its product candidates in clinical development include NBI-921352 for treating pediatric patients, as well as adult focal epilepsy indications; and NBI-827104 to treat rare pediatric epilepsy and essential tremor. The company's products in clinical development also comprise NBI-1065845 for the treatment of major depressive disorder; NBI-1065846 for treating anhedonia in major depressive disorder; and NBI-118568 for the treatment of schizophrenia. It has license and collaboration agreements with Heptares Therapeutics Limited; Takeda Pharmaceutical Company Limited; Idorsia Pharmaceuticals Ltd; Xenon Pharmaceuticals Inc.; Voyager Therapeutics, Inc.; BIAL Portela & Ca, S.A.; Mitsubishi Tanabe Pharma Corporation; and AbbVie Inc. Neurocrine Biosciences, Inc. was incorporated in 1992 and is headquartered in San Diego, California.
Full company profile →Short Interest
5.1%
3.6 days to cover
Deerfield Management NBIX Position History
| Quarter | Action | Shares | Change | Value |
|---|---|---|---|---|
| Q4 2025 | Held | 1,184,345 | — | $168.0M |
| Q3 2025 | Increased | 1,184,345 | +16,543 | $166.3M |
| Q2 2025 | Decreased | 1,167,802 | -321,198 | $146.8M |
| Q1 2025 | Increased | 1,489,000 | +627,000 | $164.7M |
| Q4 2024 | Decreased | 862,000 | -454,590 | $117.7M |
| Q3 2024 | Increased | 1,316,590 | +625,586 | $151.7M |
| Q2 2024 | Held | 691,004 | — | $95.1M |
| Q1 2024 | Decreased | 691,004 | -205,715 | $95.3M |
| Q4 2023 | Decreased | 896,719 | -312,995 | $118.2M |
| Q3 2023 | Held | 1,209,714 | — | $136.1M |
| Q2 2023 | Decreased | 1,209,714 | -535,000 | $114.1M |
| Q1 2023 | New | 1,744,714 | +1,744,714 | $176.6M |
Frequently Asked Questions
Does Deerfield Management own NBIX?
Yes. As of Q4 2025, Deerfield Management holds 1,184,345 shares of Neurocrine Biosciences Inc. (NBIX) valued at $168.0M. This data comes from their SEC 13F filing.
How many hedge funds own NBIX?
9 specialist biotech hedge funds currently hold NBIX, including Rock Springs Capital, RTW Investments, OrbiMed Advisors and 5 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did Deerfield Management first buy NBIX?
Deerfield Management's position in NBIX was first reported in Q1 2023. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is Deerfield Management's NBIX position increasing or decreasing?
Deerfield Management held their NBIX position unchanged in the most recent quarter.
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