Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $35.00

Nurix Therapeutics (NASDAQ:NRIX) had its price objective upped by HC Wainwright from $30.00 to $35.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 58.66% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Stephens reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Monday, October 14th. Oppenheimer boosted their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reduced their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $41.00 price objective on the stock. Finally, UBS Group started coverage on Nurix Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.35.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $22.06 on Wednesday. Nurix Therapeutics has a 1 year low of $7.65 and a 1 year high of $29.56. The firm has a 50-day moving average of $23.72 and a 200 day moving average of $22.10. The stock has a market cap of $1.56 billion, a P/E ratio of -7.58 and a beta of 2.11.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. Research analysts expect that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 2,368 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $57,542.40. Following the sale, the chief financial officer now owns 37,270 shares in the company, valued at approximately $905,661. The trade was a 5.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christine Ring sold 3,290 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $614,800. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,401 shares of company stock valued at $437,453 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several large investors have recently added to or reduced their stakes in NRIX. Driehaus Capital Management LLC bought a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $26,778,000. Samlyn Capital LLC bought a new stake in Nurix Therapeutics in the second quarter worth $12,177,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Nurix Therapeutics during the third quarter worth $12,432,000. FMR LLC boosted its stake in Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after buying an additional 511,256 shares during the period. Finally, Patient Square Capital LP bought a new position in Nurix Therapeutics during the third quarter valued at $7,320,000.

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.