Harding Loevner’s Biggest Contributor: Neurocrine Biosciences (NBIX)

Harding Loevner, an asset management company, released its “Global Small Companies Equity” second quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -14.49% net of fees compared to a return of -16.96% for the MSCI All Country World Small Cap Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Harding Loevner discussed stocks like Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter investor letter. Headquartered in San Diego, California, Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is a pharmaceutical company. On September 23, 2022, Neurocrine Biosciences, Inc. (NASDAQ:NBIX) stock closed at $103.50 per share. One-month return of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) was -1.73% and its shares gained 9.05% of their value over the last 52 weeks. Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has a market capitalization of $9.899 billion.

Here is what Harding Loevner specifically said about Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in its Q2 2022 investor letter:

“In Health Care, Neurocrine Biosciences, Inc. (NASDAQ:NBIX), a developer of treatments for neurological diseases, reported good quarterly results, and management maintained its guidance for this year. While COVID-19 fears initially discouraged medical visits and limited new diagnoses, those challenges have since dissipated, enabling Neurocrine to benefit from robust growth of its tardive dyskinesia treatment, Ingrezza, which prevents an involuntary-movement disorder caused by chronic antipsychotic drug use.”

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Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Neurocrine Biosciences, Inc. (NASDAQ:NBIX) at the end of the second quarter which was 43 in the previous quarter.

We discussed Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in another article and shared ClearBridge Investments’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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