Nurix Therapeutics (NASDAQ:NRIX) Stock Price Expected to Rise, Mizuho Analyst Says

Nurix Therapeutics (NASDAQ:NRIX) had its target price lifted by research analysts at Mizuho from $30.00 to $34.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 47.44% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Jefferies Financial Group increased their price objective on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Truist Financial lifted their target price on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer initiated coverage on Nurix Therapeutics in a report on Monday, June 29th. They set an “outperform” rating and a $28.00 price target on the stock. BTIG Research reissued a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a report on Friday. Finally, Royal Bank Of Canada upped their price target on shares of Nurix Therapeutics from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Friday. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.08.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX opened at $23.06 on Monday. The stock has a market capitalization of $2.39 billion, a PE ratio of -6.68 and a beta of 1.80. The stock has a fifty day simple moving average of $18.44 and a 200-day simple moving average of $17.36. Nurix Therapeutics has a twelve month low of $8.19 and a twelve month high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The business had revenue of $9.04 million during the quarter, compared to analysts’ expectations of $15.29 million. On average, equities analysts predict that Nurix Therapeutics will post -2.88 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the sale, the insider owned 115,005 shares of the company’s stock, valued at approximately $2,300,100. This represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the transaction, the chief financial officer directly owned 37,592 shares in the company, valued at approximately $624,027.20. This represents a 27.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 25,051 shares of company stock worth $434,466. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRIX. Handelsbanken Fonder AB boosted its position in shares of Nurix Therapeutics by 15.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 633,000 shares of the company’s stock worth $15,357,000 after acquiring an additional 86,000 shares in the last quarter. Perceptive Advisors LLC increased its stake in Nurix Therapeutics by 4.4% during the 1st quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock valued at $57,519,000 after purchasing an additional 155,000 shares in the last quarter. Bank of America Corp DE raised its position in Nurix Therapeutics by 8.9% in the 1st quarter. Bank of America Corp DE now owns 802,153 shares of the company’s stock valued at $12,433,000 after buying an additional 65,595 shares during the last quarter. Stempoint Capital LP purchased a new position in Nurix Therapeutics in the first quarter worth $4,886,000. Finally, California State Teachers Retirement System grew its holdings in Nurix Therapeutics by 45.6% during the first quarter. California State Teachers Retirement System now owns 99,042 shares of the company’s stock valued at $1,535,000 after purchasing an additional 31,023 shares during the period.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.