Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $24.80 Consensus Price Target from Analysts

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $25.10.

A number of brokerages recently commented on NRIX. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Monday, June 17th. Royal Bank of Canada increased their price target on shares of Nurix Therapeutics from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. HC Wainwright boosted their price objective 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. Finally, Robert W. Baird increased their target price on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the sale, the chief financial officer now owns 68,333 shares of the company’s stock, valued at $876,712.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the sale, the chief financial officer now owns 68,333 shares of the company’s stock, valued at $876,712.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now directly owns 19,838 shares in the company, valued at approximately $412,828.78. The disclosure for this sale can be found here. Insiders have sold a total of 16,549 shares of company stock valued at $271,888 over the last 90 days. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Redmile Group LLC raised its position in Nurix Therapeutics by 37.7% in the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after buying an additional 1,226,497 shares during the last quarter. ARK Investment Management LLC raised its position in Nurix Therapeutics by 23.2% in the 4th quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock valued at $32,972,000 after buying an additional 601,952 shares during the last quarter. Vanguard Group Inc. raised its position in Nurix Therapeutics by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,714,845 shares of the company’s stock valued at $21,339,000 after buying an additional 22,804 shares during the last quarter. Affinity Asset Advisors LLC raised its position in Nurix Therapeutics by 17.4% in the 1st quarter. Affinity Asset Advisors LLC now owns 810,253 shares of the company’s stock valued at $11,911,000 after buying an additional 120,141 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Nurix Therapeutics by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,297 shares of the company’s stock valued at $6,422,000 after buying an additional 53,721 shares during the last quarter.

Nurix Therapeutics Stock Performance

NASDAQ:NRIX opened at $20.91 on Tuesday. The stock’s fifty day moving average price is $15.94 and its two-hundred day moving average price is $12.98. Nurix Therapeutics has a 52-week low of $4.22 and a 52-week high of $22.44. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -7.86 and a beta of 2.17.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The firm had revenue of $16.59 million for the quarter, compared to the consensus estimate of $14.58 million. On average, equities analysts predict that Nurix Therapeutics will post -2.85 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.