7 Most Promising Psychedelic Stocks According to Hedge Funds

2. Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Number of Hedge Fund Holders: 60 

Price Target Upside: 42.04% 

Neurocrine Biosciences (NASDAQ:NBIX) takes second position on our list of most promising stocks.

TheFly reported on February 12 that Needham lowered its price target on NBIX to $185 from $187 and maintained a Buy rating. The company is still hopeful about Crenessity’s growth in 2026 and anticipates robust double-digit growth for Ingrezza, which is in line with consensus forecasts of $2.72 billion. The firm also emphasized Neurocrine’s pipeline, which is backed by two active Phase 3 programs and could offer a new medication every two years.

Earlier on February 11, Neurocrine Biosciences (NASDAQ:NBIX) reported fourth-quarter revenue of $805.5 million, which exceeded the $789.3 million consensus estimate. The management emphasized that the 2025 results show the commercial portfolio’s robustness and the company’s ongoing progress toward diversification as a biopharmaceutical business. The business intends to advance a pipeline led by late-stage initiatives and drive steady growth from INGREZZA and CRENESSITY (crinecerfont) through 2026. Osavampator for major depressive disorder and direclidine for schizophrenia are important Phase 3 assets. NBIX’s growing commercial base and developing clinical pipeline, according to the leadership, put it in a position to create long-term value for stakeholders and increase its influence on patients across a range of neuropsychiatric diseases.

Neurocrine Biosciences (NASDAQ:NBIX) is a neuroscience‑focused biopharmaceutical firm developing innovative psychiatric and neurological treatments. While not a classic psychedelic company, it still explores next‑generation mental health therapies with psychedelic‑like mechanisms targeting depression and schizophrenia through novel neuropsychiatric drug research.