Analysts Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Price Target at $26.88

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $26.3333.

A number of research analysts have recently issued reports on NRIX shares. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, November 4th. Truist Financial started coverage on shares of Nurix Therapeutics in a research note on Monday, November 24th. They set a “buy” rating and a $30.00 target price for the company. Piper Sandler dropped their target price on shares of Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Mizuho assumed coverage on Nurix Therapeutics in a report on Tuesday, October 21st. They set an “outperform” rating and a $24.00 price target for the company. Finally, Morgan Stanley lowered their price objective on Nurix Therapeutics from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th.

Nurix Therapeutics Trading Up 18.7%

NASDAQ NRIX opened at $21.47 on Tuesday. The firm has a market capitalization of $1.65 billion, a PE ratio of -7.23 and a beta of 1.87. The business’s 50-day moving average price is $12.83 and its two-hundred day moving average price is $11.49. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $22.95.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, October 9th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The company had revenue of $7.89 million during the quarter, compared to analyst estimates 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, analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,284 shares of Nurix Therapeutics stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $12.56, for a total value of $78,927.04. Following the completion of the sale, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at approximately $472,155.52. The trade was a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 4,087 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $12.80, for a total value of $52,313.60. Following the transaction, the insider directly owned 76,751 shares in the company, valued at approximately $982,412.80. This trade represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,501 shares of company stock valued at $171,305. 7.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

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