U.S. markets closed
  • S&P 500

    3,841.94
    +73.47 (+1.95%)
     
  • Dow 30

    31,496.30
    +572.20 (+1.85%)
     
  • Nasdaq

    12,920.15
    +196.65 (+1.55%)
     
  • Russell 2000

    2,192.21
    +45.29 (+2.11%)
     
  • Crude Oil

    66.28
    +2.45 (+3.84%)
     
  • Gold

    1,698.20
    -2.50 (-0.15%)
     
  • Silver

    25.30
    -0.17 (-0.65%)
     
  • EUR/USD

    1.1916
    -0.0063 (-0.52%)
     
  • 10-Yr Bond

    1.5540
    +0.0040 (+0.26%)
     
  • GBP/USD

    1.3834
    -0.0060 (-0.43%)
     
  • USD/JPY

    108.3600
    +0.3840 (+0.36%)
     
  • BTC-USD

    50,424.45
    +1,926.38 (+3.97%)
     
  • CMC Crypto 200

    982.93
    +39.75 (+4.21%)
     
  • FTSE 100

    6,630.52
    -20.36 (-0.31%)
     
  • Nikkei 225

    28,864.32
    -65.78 (-0.23%)
     

Is Neurocrine Biosciences (NBIX) a Smart Long-term Buy?

  • Oops!
    Something went wrong.
    Please try again later.
Alex Smith
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.

Baron Health Care Fund recently published its third-quarter commentary – a copy of which can be downloaded here. During the third quarter of 2020, the Baron Health Care Fund returned 11.64% (institutional shares). In comparison, the benchmark S&P 500 Index was up 8.93%, while the Russell 3000 Health Care Index was up 6.48%. You should check out Baron’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q3 2020 Investor Letter, Baron Health Care Fund highlighted a few stocks and Neurocrine Biosciences Inc (NASDAQ:NBIX) is one of them. Neurocrine Biosciences Inc (NASDAQ:NBIX) is a biopharmaceutical company. Year-to-date, Neurocrine Biosciences Inc (NASDAQ:NBIX) stock lost 15.1% and on December 10th it had a closing price of $91.24. Here is what Baron Health Care Fund said:

"Neurocrine Biosciences, Inc. is a biotechnology company focused on neurology and endocrinology. Its lead product, Ingrezza, is used for Tardive dyskinsia, a movement disorder that is a side effect of antipsychotic medication. Shares declined in the quarter mostly due to inventory stocking in the second quarter that management warned would potentially cause a momentary slowdown in sequential growth. We remain unconcerned about these types of business dynamics and are focused on Ingrezza continuing its strong launch and on its pipeline delivering over time."

Countries With Highest Medical Research Spending
Countries With Highest Medical Research Spending

Likoper/Shutterstock.com

In Q2 2020, the number of bullish hedge fund positions on Neurocrine Biosciences Inc (NASDAQ:NBIX) stock remained unchanged from the previous quarter (see the chart here). Our calculations showed that Neurocrine Biosciences Inc (NASDAQ:NBIX) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.