Analysts Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) PT at $34.21

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $34.2143.

NRIX has been the subject of a number of research reports. Morgan Stanley raised their price objective on Nurix Therapeutics from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Oppenheimer started coverage on shares of Nurix Therapeutics in a research report on Monday, June 29th. They issued an “outperform” rating and a $28.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, August 4th. Wells Fargo & Company cut shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and decreased their price target for the stock from $28.00 to $25.00 in a report on Monday, June 8th. Finally, Mizuho boosted their price objective on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, July 13th.

Nurix Therapeutics Stock Up 0.5%

Shares of NASDAQ:NRIX opened at $26.26 on Thursday. The company’s fifty day moving average is $25.04 and its two-hundred day moving average is $19.58. The company has a market cap of $2.73 billion, a P/E ratio of -7.61 and a beta of 1.80. Nurix Therapeutics has a 12-month low of $8.19 and a 12-month high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The business had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. Equities research analysts anticipate that Nurix Therapeutics will post -2.69 earnings per share for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total transaction of $36,982.44. Following the completion of the sale, the insider owned 117,227 shares of the company’s stock, valued at $2,985,771.69. This trade represents a 1.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were 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 in the company, valued at approximately $978,443.76. This represents a 10.60% 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. Insiders have sold a total of 26,766 shares of company stock valued at $626,343 in the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in shares of Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after purchasing an additional 1,190 shares in the last quarter. Nykredit A S bought a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $32,000. Integrated Wealth Concepts LLC bought a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $33,000. California State Teachers Retirement System increased its holdings in Nurix Therapeutics by 2.2% in the fourth quarter. California State Teachers Retirement System now owns 68,019 shares of the company’s stock worth $1,290,000 after buying an additional 1,476 shares during the last quarter. Finally, Intesa Sanpaolo Wealth Management bought a new position in Nurix Therapeutics during the fourth quarter valued at approximately $31,000.

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.