Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $30.00 at JPMorgan Chase & Co.

Nurix Therapeutics (NASDAQ:NRIX) had its price target cut by JPMorgan Chase & Co. from $31.00 to $30.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also commented on NRIX. Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. BTIG Research assumed coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $35.00 price target on the stock. HC Wainwright upped their price target on shares of Nurix Therapeutics from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada cut their price objective on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Finally, Needham & Company LLC cut their price objective on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Nurix Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $30.71.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $19.65 on Wednesday. Nurix Therapeutics has a fifty-two week low of $7.79 and a fifty-two week high of $29.56. The company’s 50-day moving average is $20.20 and its 200-day moving average is $22.42.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. As a group, research analysts predict that Nurix Therapeutics will post -2.81 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 3,546 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $24.28, for a total transaction of $86,096.88. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at $818,818.72. This represents a 9.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Nurix Therapeutics by 85.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock worth $1,531,000 after purchasing an additional 31,352 shares in the last quarter. Barclays PLC increased its position in Nurix Therapeutics by 77.9% in the 3rd quarter. Barclays PLC now owns 128,344 shares of the company’s stock valued at $2,884,000 after acquiring an additional 56,190 shares during the period. FMR LLC increased its position in Nurix Therapeutics by 675.9% in the 3rd quarter. FMR LLC now owns 586,902 shares of the company’s stock valued at $13,188,000 after acquiring an additional 511,256 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Nurix Therapeutics in the 3rd quarter valued at approximately $530,000. Finally, Franklin Resources Inc. increased its position in Nurix Therapeutics by 52.4% in the 3rd quarter. Franklin Resources Inc. now owns 123,101 shares of the company’s stock valued at $2,766,000 after acquiring an additional 42,315 shares during the period.

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.