Mar. 14 at 4:08 PM
$NBIX 10-year analyst consensus revenue estimates versus
$ASND &
$BBIO. Analysts forecast NBIX will generate considerably more revenues than both ASND & BBIO yet NBIX trades at meaningfully lower valuations than both.
NBIX product sales generated higher gross profit margins than both in FY2025 as well
The objective of this post is to identify the apparent disconnect in NBIX’s valuation using these 2 peers as comparables for valuation (sharing the math). This is in no way to put down nor bash ANSD or BBIO. Both appear great commercial-stage non-oncology focused bios. We understand there is a rumor ASND is a near-term M&A candidate.
If drugs are worth some NPV and/or multiple of projected sales, and NBIX trades at meaningfully lower multiples of analyst projected sales then does that suggest NBIX’s risk v reward profile is as compelling as ASND & BBIO? We’d genuinely like to understand a data driven reason the apparent disconnect is warranted.
This is not investment advice.
$XBI $IBB
