Analysts Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Target Price at $29.40

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has received an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $29.40.

NRIX has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, November 6th. Truist Financial assumed coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 target price for the company. HC Wainwright lifted their price target on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Robert W. Baird started coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $26.00 target price for the company. Finally, Royal Bank of Canada dropped their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 14th.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,368 shares of the 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 of the company’s stock, valued at approximately $905,661. This represents a 5.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gwenn Hansen sold 3,437 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $83,519.10. Following the completion of the sale, the insider now directly owns 50,670 shares in the company, valued at approximately $1,231,281. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,451 shares of company stock valued at $663,160 over the last 90 days. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank grew its holdings in shares of Nurix Therapeutics by 30.6% in 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after purchasing an additional 559 shares during the last quarter. Quarry LP grew its holdings in shares of Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after purchasing an additional 2,435 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after purchasing an additional 3,424 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Nurix Therapeutics by 1,098.4% in the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after purchasing an additional 4,119 shares during the last quarter.

Nurix Therapeutics Stock Performance

NRIX stock opened at $22.05 on Friday. The firm has a market cap of $1.56 billion, a P/E ratio of -7.58 and a beta of 2.20. Nurix Therapeutics has a 52 week low of $5.65 and a 52 week high of $29.56. The firm’s fifty day moving average is $24.37 and its 200 day moving average is $21.59.

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

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.