HC Wainwright Forecasts Strong Price Appreciation for Nurix Therapeutics (NASDAQ:NRIX) Stock

Nurix Therapeutics (NASDAQ:NRIX) had its price target raised by equities research analysts at HC Wainwright from $35.00 to $36.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 79.91% from the company’s previous close.

A number of other brokerages also recently commented on NRIX. Stephens reaffirmed an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Royal Bank of Canada dropped their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. BMO Capital Markets assumed coverage on Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective for the company. BTIG Research began coverage on Nurix Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Needham & Company LLC reduced their price target on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Nurix Therapeutics has an average rating of “Moderate Buy” and an average price target of $30.71.

Nurix Therapeutics Stock Performance

NASDAQ NRIX opened at $20.01 on Wednesday. The firm’s 50 day moving average price is $20.14 and its two-hundred day moving average price is $22.40. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -6.88 and a beta of 2.14. Nurix Therapeutics has a twelve month low of $7.79 and a twelve month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data 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 return on equity of 63.39% and a negative net margin of 313.65%. On average, research analysts forecast that Nurix Therapeutics will post -2.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 3,690 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the transaction, the insider now directly owns 55,937 shares in the company, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Houte Hans Van sold 2,811 shares of Nurix Therapeutics stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $55,798.35. Following the sale, the chief financial officer now owns 39,549 shares in the company, valued at $785,047.65. This represents a 6.64 % decrease in their position. The disclosure for this sale can be found here. 7.20% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

Several institutional investors have recently made changes to their positions in NRIX. Amalgamated Bank lifted its stake in Nurix Therapeutics by 30.6% during the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after purchasing an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Nurix Therapeutics by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after buying an additional 559 shares during the period. Quest Partners LLC boosted its stake in Nurix Therapeutics by 21.3% in the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after buying an additional 1,312 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Nurix Therapeutics by 8.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company’s stock valued at $675,000 after acquiring an additional 2,329 shares during the period. Finally, Quarry LP raised its stake in Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after acquiring an additional 2,435 shares in the last quarter.

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.