NBIX vs. UTHR

Last updated Jun 4, 2026

NBIX (Neurocrine Biosciences, Inc.) and UTHR (United Therapeutics Corporation) are both stocks. Both are in the Healthcare sector — NBIX in Drug Manufacturers - Specialty & Generic, UTHR in Biotechnology. Over the past 10 years, NBIX returned 12.80%/yr vs 16.80%/yr for UTHR. At a 0.34 correlation, their price movements are largely independent.

Performance

NBIX vs. UTHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neurocrine Biosciences, Inc. (NBIX) and United Therapeutics Corporation (UTHR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBIX achieves a 16.41% return, which is significantly higher than UTHR's 12.77% return. Over the past 10 years, NBIX has underperformed UTHR with an annualized return of 12.80%, while UTHR has yielded a comparatively higher 16.80% annualized return.

NBIX

• 1D: 6.63%
• 1M: 23.15%
• YTD: 16.41%
• 6M: 8.65%
• 1Y: 32.09%
• 3Y*: 21.38%
• 5Y*: 11.83%
• 10Y*: 12.80%

UTHR

• 1D: 1.74%
• 1M: -5.46%
• YTD: 12.77%
• 6M: 14.24%
• 1Y: 69.48%
• 3Y*: 36.25%
• 5Y*: 25.58%
• 10Y*: 16.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NBIX vs. UTHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBIX Neurocrine Biosciences, Inc.	16.41%	3.90%	3.60%	10.31%	40.24%	-11.14%	-10.83%	50.53%	-7.96%	100.49%
UTHR United Therapeutics Corporation	12.77%	38.09%	60.46%	-20.93%	28.70%	42.35%	72.33%	-19.12%	-26.39%	3.15%

Correlation

The correlation between NBIX and UTHR is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jun 18, 1999	0.34

Fundamentals

Market Cap NBIX : $17.07B UTHR : $25.93B
EPS NBIX : $6.53 UTHR : $27.00
PE Ratio NBIX : 25.28 UTHR : 20.35
PEG Ratio NBIX : 0.50 UTHR : 0.67
PS Ratio NBIX : 5.45 UTHR : 8.26
PB Ratio NBIX : 5.01 UTHR : 4.39
Total Revenue (TTM) NBIX : $3.10B UTHR : $3.17B
Gross Profit (TTM) NBIX : $3.05B UTHR : $2.74B
EBITDA (TTM) NBIX : $881.20M UTHR : $1.75B

Return for Risk

NBIX vs. UTHR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NBIX

NBIX Risk / Return Rank: 68
NBIX Sharpe Ratio Rank: 72
NBIX Sortino Ratio Rank: 66
NBIX Omega Ratio Rank: 67
NBIX Calmar Ratio Rank: 69
NBIX Martin Ratio Rank: 68

UTHR

UTHR Risk / Return Rank: 86
UTHR Sharpe Ratio Rank: 79
UTHR Sortino Ratio Rank: 86
UTHR Omega Ratio Rank: 86
UTHR Calmar Ratio Rank: 88
UTHR Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NBIX vs. UTHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neurocrine Biosciences, Inc. (NBIX) and United Therapeutics Corporation (UTHR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NBIX	UTHR	Difference
Sharpe ratio Return per unit of total volatility	1.04	1.40	-0.37
Sortino ratio Return per unit of downside risk	1.54	2.82	-1.28
Omega ratio Gain probability vs. loss probability	1.21	1.38	-0.17
Calmar ratio Return relative to maximum drawdown	1.54	4.27	-2.73
Martin ratio Return relative to average drawdown	3.39	11.01	-7.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBIX vs. UTHR - Sharpe Ratio Comparison

The current NBIX Sharpe Ratio is 1.04, which is comparable to the UTHR Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of NBIX and UTHR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NBIX	UTHR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	1.40	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.73	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.48	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.38	-0.24

Drawdowns

NBIX vs. UTHR - Drawdown Comparison

The maximum NBIX drawdown since its inception was -97.21%, roughly equal to the maximum UTHR drawdown of -93.18%. Use the drawdown chart below to compare losses from any high point for NBIX and UTHR.

Drawdown Indicators

	NBIX	UTHR	Difference
Max Drawdown Largest peak-to-trough decline	-97.21%	-93.18%	-4.03%
Max Drawdown (1Y) Largest decline over 1 year	-20.90%	-16.35%	-4.55%
Max Drawdown (3Y) Largest decline over 3 years	-42.89%	-33.00%	-9.89%
Max Drawdown (5Y) Largest decline over 5 years	-42.89%	-33.00%	-9.89%
Max Drawdown (10Y) Largest decline over 10 years	-46.39%	-55.56%	+9.17%
Current Drawdown Current decline from peak	0.00%	-7.92%	+7.92%
Average Drawdown Average peak-to-trough decline	-43.85%	-35.32%	-8.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.48%	6.33%	+3.15%

Volatility

NBIX vs. UTHR - Volatility Comparison

Neurocrine Biosciences, Inc. (NBIX) has a higher volatility of 12.60% compared to United Therapeutics Corporation (UTHR) at 8.33%. This indicates that NBIX's price experiences larger fluctuations and is considered to be riskier than UTHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBIX	UTHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.60%	8.33%	+4.27%
Volatility (6M) Calculated over the trailing 6-month period	23.57%	26.06%	-2.49%
Volatility (1Y) Calculated over the trailing 1-year period	31.08%	49.78%	-18.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.72%	35.15%	-2.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.19%	35.10%	+4.09%

Dividends

NBIX vs. UTHR - Dividend Comparison

Neither NBIX nor UTHR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

NBIX vs. UTHR - Profitability Comparison

The chart below illustrates the profitability comparison between Neurocrine Biosciences, Inc. and United Therapeutics Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NBIX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Neurocrine Biosciences, Inc. reported a gross profit of 800.70M and revenue of 814.50M. Therefore, the gross margin over that period was 98.3%.

UTHR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, United Therapeutics Corporation reported a gross profit of 648.10M and revenue of 781.50M. Therefore, the gross margin over that period was 82.9%.

NBIX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Neurocrine Biosciences, Inc. reported an operating income of 193.40M and revenue of 814.50M, resulting in an operating margin of 23.7%.

UTHR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, United Therapeutics Corporation reported an operating income of 325.80M and revenue of 781.50M, resulting in an operating margin of 41.7%.

NBIX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Neurocrine Biosciences, Inc. reported a net income of 197.90M and revenue of 814.50M, resulting in a net margin of 24.3%.

UTHR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, United Therapeutics Corporation reported a net income of 274.90M and revenue of 781.50M, resulting in a net margin of 35.2%.

Frequently Asked Questions

Can I hold both NBIX and UTHR in my portfolio?

NBIX and UTHR have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBIX or UTHR?

NBIX has higher volatility (12.60%) compared to UTHR (8.33%). In terms of maximum drawdown, NBIX dropped -97.21% vs UTHR's -93.18%.

Which has better risk-adjusted returns?

UTHR currently has the higher Sharpe Ratio (1.40 vs 1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.