Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 608,935 shares of the company's stock after selling 55,401 shares during the quarter. Franklin Resources Inc. owned approximately 0.60% of Neurocrine Biosciences worth $83,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its holdings in Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after purchasing an additional 100 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Neurocrine Biosciences by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company's stock valued at $3,052,000 after purchasing an additional 103 shares during the period. Metis Global Partners LLC lifted its holdings in Neurocrine Biosciences by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company's stock valued at $348,000 after buying an additional 104 shares during the period. Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Neurocrine Biosciences by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company's stock valued at $2,816,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NBIX. HC Wainwright reiterated a "buy" rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a report on Friday, February 21st. Royal Bank of Canada decreased their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Needham & Company LLC reiterated a "hold" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Finally, Barclays lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $163.52.

Insider Activity at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the transaction, the chief financial officer now owns 32,681 shares of the company's stock, valued at $4,995,944.47. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,906 shares of company stock worth $33,869,030 in the last 90 days. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Down 2.0 %

Shares of NASDAQ NBIX traded down $1.87 during midday trading on Tuesday, hitting $91.38. The stock had a trading volume of 347,997 shares, compared to its average volume of 1,004,610. The stock has a 50 day simple moving average of $118.91 and a 200-day simple moving average of $124.18. The company has a market capitalization of $9.11 billion, a PE ratio of 27.85, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1 year low of $90.33 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a stock buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

About Neurocrine Biosciences

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.