Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $36.00

Nurix Therapeutics (NASDAQ:NRIX) had its price target hoisted by Robert W. Baird from $33.00 to $36.00 in a report published on Tuesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

NRIX has been the subject of a number of other research reports. Wall Street Zen raised shares of Nurix Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of Nurix Therapeutics in a report on Tuesday, August 4th. Stifel Nicolaus lifted their price target on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 10th. HC Wainwright upped their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Morgan Stanley increased their price objective on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Nurix Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Nurix Therapeutics Stock Up 5.4%

Shares of NRIX stock opened at $24.95 on Tuesday. Nurix Therapeutics has a twelve month low of $9.71 and a twelve month high of $28.23. The company has a market cap of $2.73 billion, a P/E ratio of 10.80 and a beta of 1.82. The business has a fifty day simple moving average of $25.13 and a 200 day simple moving average of $21.13.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Monday, October 12th. The company reported $4.73 earnings per share for the quarter, beating the consensus estimate of ($0.60) by $5.33. Nurix Therapeutics had a return on equity of 49.34% and a net margin of 42.01%. The business had revenue of $673.06 million for the quarter, compared to analyst estimates of $24.35 million. As a group, equities research analysts anticipate that Nurix Therapeutics will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Julia P. Gregory sold 22,583 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $23.40, for a total value of $528,442.20. Following the transaction, the director directly owned 10,750 shares of the company’s stock, valued at $251,550. The trade was a 67.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hans van Houte sold 4,761 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total value of $115,977.96. Following the completion of the sale, the chief financial officer owned 40,166 shares in the company, valued at $978,443.76. The trade was 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. Over the last quarter, insiders sold 45,407 shares of company stock valued at $1,083,206. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Nurix Therapeutics during the 2nd quarter worth approximately $212,769,000. General Atlantic L.P. acquired a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $92,899,000. Baker BROS. Advisors LP lifted its position in shares of Nurix Therapeutics by 20.0% in the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock worth $88,373,000 after purchasing an additional 776,431 shares during the period. Perceptive Advisors LLC lifted its position in shares of Nurix Therapeutics by 4.4% in the 1st quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock worth $57,519,000 after purchasing an additional 155,000 shares during the period. Finally, Trails Edge Capital Partners LP bought a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at $38,166,318.

Nurix Therapeutics News Summary

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Nurix initiated the Phase 3 DAYBreak CLL-306 trial of bexobrutideg in relapsed or refractory chronic lymphocytic leukemia and small lymphocytic lymphoma. An analyst maintained a “Strong Buy” rating, citing promising earlier-stage data, potential accelerated approval and multiple development opportunities. Bexobrutideg clinical analysis
• Positive Sentiment: Analyst sentiment remains broadly bullish. Baird raised its price target to $36 and maintained an “Outperform” rating, while Needham reiterated “Buy” with a $34 target. The consensus target is approximately $34.64, above recent trading levels. Nurix analyst ratings
• Neutral Sentiment: Nurix’s quarterly results significantly exceeded estimates, with earnings of $4.73 per share versus a projected loss of $0.60 and revenue of $673.06 million versus a $24.35 million consensus estimate. However, the earnings reaction was tempered by higher operating expenses as the company continues investing in its pipeline. Nurix quarterly earnings
• Negative Sentiment: Truist reduced its price target for Nurix while retaining a “Buy” rating, signaling more cautious near-term expectations despite confidence in the company’s longer-term prospects. Truist price target update
• Negative Sentiment: Director Julia Gregory sold 22,583 shares for about $528,000, reducing her direct ownership by 67.75%. Separately, insider Gwenn Hansen sold 1,452 shares for $36,300 under a pre-arranged Rule 10b5-1 plan. While planned sales may reflect diversification or personal financial needs, the transactions can weigh on investor sentiment. Nurix insider sale filing

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.