Nurix Therapeutics (NASDAQ:NRIX) Stock Price Target Cut by Truist Financial

by · The Markets Daily

Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) had its price objective dropped by analysts at Truist Financial from $34.00 to $33.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 48.92% from the stock’s current price.

A number of other research firms also recently commented on NRIX. Morgan Stanley increased their target price on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. UBS Group boosted their price target on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Robert W. Baird boosted their price target on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus upped their price objective on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Mizuho raised their price objective on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nurix Therapeutics has an average rating of “Moderate Buy” and an average price target of $34.36.

View Our Latest Report on Nurix Therapeutics

Nurix Therapeutics Stock Down 0.9%

Shares of NRIX opened at $22.16 on Tuesday. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -6.42 and a beta of 1.82. Nurix Therapeutics has a 52-week low of $9.00 and a 52-week high of $28.23. The stock has a 50 day moving average price of $25.22 and a 200 day moving average price of $20.96.

Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) last released its quarterly earnings data on Tuesday, October 13th. The company reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $5.33. The company had revenue of $673.06 million for the quarter, compared to analysts’ expectations of $24.35 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. On average, equities analysts anticipate that Nurix Therapeutics will post -2.69 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, CFO Hans van Houte sold 4,761 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the transaction, the chief financial officer owned 40,166 shares of the company’s stock, valued at $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total value of $36,982.44. Following the completion of the transaction, the insider directly owned 117,227 shares in the company, valued at approximately $2,985,771.69. The trade was a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,372 shares of company stock valued at $518,463 over the last three months. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Nurix Therapeutics by 95.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,270 shares of the company’s stock worth $30,000 after buying an additional 620 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Nurix Therapeutics by 755.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,014 shares of the company’s stock worth $95,000 after acquiring an additional 3,545 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Nurix Therapeutics in the second quarter valued at about $33,000. Nykredit A S purchased a new stake in shares of Nurix Therapeutics in the second quarter valued at about $32,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Nurix Therapeutics during the second quarter worth about $341,000.

About Nurix Therapeutics

(Get Free Report)

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.

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