Franklin Resources Inc. Sells 144,114 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Franklin Resources Inc. decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 17.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 664,336 shares of the company's stock after selling 144,114 shares during the period. Franklin Resources Inc. owned approximately 0.66% of Neurocrine Biosciences worth $77,355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Neurocrine Biosciences by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company's stock valued at $1,574,000 after buying an additional 90 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Neurocrine Biosciences by 14.7% in the 2nd 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. Total Clarity Wealth Management Inc. grew its position in Neurocrine Biosciences by 4.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company's stock valued at $335,000 after acquiring an additional 100 shares in the last quarter. Commerce Bank raised its stake in shares of Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company's stock valued at $484,000 after purchasing an additional 108 shares during the period. Finally, Caprock Group LLC lifted its position in shares of Neurocrine Biosciences by 7.0% during the second quarter. Caprock Group LLC now owns 1,669 shares of the company's stock worth $230,000 after purchasing an additional 109 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jude Onyia sold 2,331 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares of the company's stock, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on NBIX shares. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research report on Monday, November 11th. Raymond James reissued an "outperform" rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. StockNews.com cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. Royal Bank of Canada decreased their price objective on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating for the company in a report on Friday, October 4th. Finally, Piper Sandler raised shares of Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

Neurocrine Biosciences Price Performance

NBIX traded up $3.64 on Tuesday, reaching $136.69. 1,578,198 shares of the company traded hands, compared to its average volume of 872,861. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 35.67 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 52-week low of $110.95 and a 52-week high of $157.98. The stock's 50 day moving average price is $122.16 and its 200-day moving average price is $130.57.

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.