5 High Growth NASDAQ Stocks That Are Profitable

This article presents an overview of the 5 High Growth NASDAQ Stocks That Are Profitable. For a detailed overview of such stocks, read our article, 14 High Growth NASDAQ Stocks That Are Profitable.

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

Number of Hedge Fund Investors: 55

Neurocrine Biosciences, Inc (NASDAQ:NBIX) ranks 5th in our list of the best high-growth profitable NASDAQ stocks to buy now. In fiscal 2022, Neurocrine Biosciences, Inc’s (NASDAQ:NBIX) total revenue came in at $1.5 billion, much higher than $1.1 billion reported in fiscal 2021.

Out of the 55 hedge funds that reported having stakes in the biotech company Neurocrine Biosciences, Inc (NASDAQ:NBIX), Steve Cohen’s Point72 Asset Management had the biggest stake in Neurocrine Biosciences, Inc (NASDAQ:NBIX) with about 2.6 million shares.

Harding Loevner Global Small Companies Equity Strategy made the following comment about Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in its Q3 2023 investor letter:

“By sector, our returns in Health Care were positive but this was more than offset by poor Industrials stocks. Neurocrine Biosciences, Inc. (NASDAQ:NBIX) reported positive late-stage clinical study data for its treatment of congenital adrenal hyperplasia, a condition which causes the body to not produce enough cortisol, increasing the probability that the company can address a new estimated $1 billion market opportunity.”