5 Biotech Stocks to Buy According to Matthew Strobeck’s Birchview Capital

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

Birchview Capital Stake Value: $7,692,000
Percentage of Birchview Capital’s 13F Portfolio: 5.23%
Number of Hedge Fund Holders: 31

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is a biopharmaceutical business specializing in neurology. Jim Simons’ Renaissance Technologies owns 1.36 million shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX), worth over $130.05 million, and is the largest shareholder of the company as of Q3 2021.

Piper Sandler analyst David Amsellem cut his price objective on Neurocrine Biosciences, Inc. (NASDAQ:NBIX) from $123 to $114 on January 26 and maintained an Overweight rating on the stock. According to the analyst, Neurocrine Biosciences, Inc. (NASDAQ:NBIX) plans to spend extensively in 2022 to market Ingrezza, expanding its sales team and engaging directly with consumers.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) saw a decrease in hedge fund sentiment in Q3 2021. The number of long hedge fund positions declined to 31 at the end of the third quarter, compared to 32 positions in the previous quarter.