Franklin Resources Inc. Lowers Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Franklin Resources Inc. cut its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 664,336 shares of the company’s stock after selling 144,114 shares during the quarter. Franklin Resources Inc. owned approximately 0.66% of Neurocrine Biosciences worth $77,355,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Neurocrine Biosciences by 34.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,357 shares of the company’s stock valued at $875,000 after purchasing an additional 1,613 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Neurocrine Biosciences by 6.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,710 shares of the company’s stock valued at $373,000 after buying an additional 168 shares during the period. Pallas Capital Advisors LLC increased its holdings in Neurocrine Biosciences by 26.4% during the second quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the company’s stock worth $447,000 after buying an additional 647 shares during the last quarter. Fifth Third Bancorp raised its position in Neurocrine Biosciences by 14.7% in the second quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock worth $99,000 after acquiring an additional 92 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Neurocrine Biosciences in the second quarter valued at about $435,000. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the transaction, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This represents a 13.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Wedbush restated an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a research note on Monday. BMO Capital Markets cut their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Monday, November 11th. Finally, StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.00.

Neurocrine Biosciences Trading Up 5.0 %

Shares of NBIX opened at $133.05 on Tuesday. The stock has a 50-day moving average price of $121.75 and a 200-day moving average price of $130.59. The company has a market cap of $13.47 billion, a PE ratio of 35.67 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.