Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $29.13 Consensus Target Price from Analysts

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $29.1333.

Several research firms have weighed in on NRIX. Mizuho increased their price target on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Wells Fargo & Company increased their target price on Nurix Therapeutics from $21.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. BTIG Research lifted their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Stifel Nicolaus set a $33.00 price objective on Nurix Therapeutics in a report on Friday, October 10th. Finally, Piper Sandler lowered their price objective on Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th.

Nurix Therapeutics Price Performance

NASDAQ:NRIX opened at $18.56 on Wednesday. The company has a market cap of $1.43 billion, a P/E ratio of -6.25 and a beta of 1.93. The firm’s fifty day moving average price is $18.13 and its two-hundred day moving average price is $13.18. Nurix Therapeutics has a one year low of $8.18 and a one year high of $22.50.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,284 shares of the business’s stock in a transaction dated 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 owned 37,592 shares of the company’s stock, valued at $472,155.52. The trade was a 14.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gwenn Hansen sold 4,087 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $12.80, for a total transaction of $52,313.60. Following the transaction, the insider owned 76,751 shares in the company, valued at approximately $982,412.80. The trade was a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 13,501 shares of company stock worth $171,305. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRIX. Vestal Point Capital LP grew its holdings in shares of Nurix Therapeutics by 73.8% during the 3rd 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 in the last quarter. Perceptive Advisors LLC grew its stake in Nurix Therapeutics by 268.7% during the second quarter. Perceptive Advisors LLC now owns 1,096,985 shares of the company’s stock worth $12,495,000 after buying an additional 799,432 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Nurix Therapeutics by 84.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,391,638 shares of the company’s stock valued at $15,851,000 after buying an additional 635,668 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of Nurix Therapeutics by 83.8% in the 2nd 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 holdings in shares of Nurix Therapeutics by 64.3% during the 3rd quarter. Millennium Management LLC now owns 1,523,959 shares of the company’s stock worth $14,081,000 after acquiring an additional 596,401 shares during the period.

Nurix Therapeutics Company Profile

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.