5 Best Pharmaceutical Stocks to Buy According to Steven Boyd’s Armistice Capital

In this article, we will take a look at some important pharma stock picks of Steven Boyd’s Armistice Capital. To read our analysis of Steven Boyd’s profile, investment strategy, and 13F holdings, you can go to the 10 Best Pharmaceutical Stocks to Buy According to Steven Boyd’s Armistice Capital.

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

Armistice Capital’s Stake Value: $129,064,000

Percentage of Armistice Capital’s 13F Portfolio: 2.25%

Number of Hedge Fund Holders: 39

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is a biopharmaceutical company dedicated to discovering and developing treatments for neurological, neuroendocrine, and neuropsychiatric disorders. Its portfolio includes FDA-approved treatments for tardive dyskinesia, Parkinson’s disease, endometriosis, and uterine fibroids, as well as clinical programs for multiple therapies.

As of Q2 2022, Steven Boyd’s Armistice Capital holds 1,324,000 shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX), accounting for 2.25% of the 13F portfolio of the hedge fund. The hedge fund increased its stake by 104% in Q2 2022, as compared to the previous quarter.

On September 26, Wells Fargo analyst Mohit Bansal initiated coverage of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) shares with a price target of $110 and an ‘Equal Weight’ rating on the shares.

As of Q2 2022, 39 of the 895 hedge funds tracked by Insider Monkey owned shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX), valued at $1.3 billion. Deerfield Management is its largest shareholder with ownership of 2 million shares valued at $196 million.