Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $30.00

by · The Cerbat Gem

Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) had its price objective raised by analysts at Wells Fargo & Company from $21.00 to $30.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 59.07% from the stock’s previous close.

A number of other equities analysts have also weighed in on NRIX. Truist Financial started coverage on shares of Nurix Therapeutics in a research report on Monday, November 24th. They issued a “buy” rating and a $30.00 price objective on the stock. HC Wainwright increased their price target on shares of Nurix Therapeutics from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. BTIG Research lifted their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Wall Street Zen cut Nurix Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 11th. Finally, Baird R W raised Nurix Therapeutics to a “strong-buy” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.73.

Read Our Latest Stock Report on Nurix Therapeutics

Nurix Therapeutics Price Performance

Shares of NRIX traded down $0.15 during midday trading on Tuesday, reaching $18.86. 119,506 shares of the stock were exchanged, compared to its average volume of 1,084,295. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -6.38 and a beta of 1.87. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $22.50. The business’s 50-day moving average price is $13.81 and its 200 day moving average price is $11.81.

Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) last announced its earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The business had revenue of $7.89 million for the quarter, compared to analysts’ expectations of $16.06 million. Nurix Therapeutics had a negative return on equity of 53.57% and a negative net margin of 292.50%. As a group, equities research analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 4,087 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $12.80, for a total value of $52,313.60. Following the sale, the insider directly owned 76,751 shares in the company, valued at $982,412.80. The trade was a 5.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Houte Hans Van sold 6,284 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $12.56, for a total transaction of $78,927.04. Following the transaction, the chief financial officer owned 37,592 shares of the company’s stock, valued at $472,155.52. This trade represents a 14.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,501 shares of company stock valued at $171,305 in the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NRIX. Vestal Point Capital LP grew its holdings in Nurix Therapeutics by 73.8% during the 3rd quarter. Vestal Point Capital LP now owns 3,475,000 shares of the company’s stock valued at $32,109,000 after buying an additional 1,475,000 shares during the last quarter. Perceptive Advisors LLC lifted its position in shares of Nurix Therapeutics by 268.7% in the second quarter. Perceptive Advisors LLC now owns 1,096,985 shares of the company’s stock valued at $12,495,000 after acquiring an additional 799,432 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Nurix Therapeutics by 84.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,391,638 shares of the company’s stock valued at $15,851,000 after acquiring an additional 635,668 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in Nurix Therapeutics by 83.8% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,389,274 shares of the company’s stock worth $15,796,000 after purchasing an additional 633,304 shares in the last quarter. Finally, Millennium Management LLC increased its position in Nurix Therapeutics by 64.3% during the 3rd quarter. Millennium Management LLC now owns 1,523,959 shares of the company’s stock worth $14,081,000 after purchasing an additional 596,401 shares in the last quarter.

Nurix Therapeutics Company Profile

(Get Free Report)

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.

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