Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $34.00 Consensus Target Price from Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $34.2143.

Several brokerages recently commented on NRIX. Oppenheimer began coverage on Nurix Therapeutics in a report on Monday, June 29th. They issued an “outperform” rating and a $28.00 price objective for the company. HC Wainwright increased their target price on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Jefferies Financial Group boosted their price target on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Finally, Robert W. Baird upped their price target on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,356 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $25.00, for a total value of $108,900.00. Following the transaction, the insider directly owned 117,227 shares in the company, valued at approximately $2,930,675. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van 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 sale, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. The trade was a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 25,314 shares of company stock valued at $589,361. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ieq Capital LLC bought a new position in shares of Nurix Therapeutics in the second quarter worth about $252,000. E Fund Management Co. Ltd. bought a new position in shares of Nurix Therapeutics during the 2nd quarter valued at approximately $234,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Nurix Therapeutics during the 2nd quarter valued at approximately $2,183,000. BlackRock Inc. purchased a new stake in Nurix Therapeutics in the 2nd quarter worth approximately $212,769,000. Finally, Deutsche Bank AG purchased a new stake in Nurix Therapeutics in the 2nd quarter worth approximately $3,674,000.

Nurix Therapeutics Stock Up 0.3%

NRIX opened at $25.96 on Friday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -7.52 and a beta of 1.79. The firm has a 50 day moving average price of $21.62 and a 200-day moving average price of $18.15. Nurix Therapeutics has a twelve month low of $8.19 and a twelve month high of $26.36.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). The company had revenue of $9.04 million during the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. As a group, analysts expect that Nurix Therapeutics will post -2.73 earnings per share for the current year.

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.