Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $27.00 Consensus Target Price from Brokerages

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $27.00.

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, July 12th. JPMorgan Chase & Co. upped their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. HC Wainwright lifted their target price on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Truist Financial initiated coverage on Nurix Therapeutics in a research report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Oppenheimer boosted their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th.

Insider Transactions at Nurix Therapeutics

In related news, insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $22.23, for a total value of $128,044.80. Following the sale, the insider now owns 24,592 shares in the company, valued at approximately $546,680.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Houte Hans Van sold 2,490 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares of the company’s stock, valued at $1,126,080.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total value of $128,044.80. Following the completion of the sale, the insider now owns 24,592 shares of the company’s stock, valued at $546,680.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,815 shares of company stock worth $1,424,931 over the last quarter. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its position in shares of Nurix Therapeutics by 576.7% during the 1st quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock valued at $2,355,000 after buying an additional 136,606 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Nurix Therapeutics by 365.0% during the second quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock valued at $2,154,000 after purchasing an additional 81,005 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Nurix Therapeutics by 80.7% in the second quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after purchasing an additional 144,700 shares during the period. TD Asset Management Inc purchased a new stake in shares of Nurix Therapeutics in the second quarter worth $593,000. Finally, Candriam S.C.A. raised its position in shares of Nurix Therapeutics by 30.5% during the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after purchasing an additional 272,136 shares during the period.

Nurix Therapeutics Stock Performance

NRIX opened at $21.54 on Thursday. Nurix Therapeutics has a 52-week low of $4.22 and a 52-week high of $26.31. The stock has a market capitalization of $1.06 billion, a PE ratio of -7.38 and a beta of 2.22. The stock’s 50 day moving average price is $23.18 and its 200-day moving average price is $18.97.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.08). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The firm had revenue of $12.09 million for the quarter, compared to the consensus estimate of $19.35 million. Research analysts forecast that Nurix Therapeutics will post -2.95 EPS for the current fiscal year.

About Nurix Therapeutics

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.