Nurix Therapeutics (NASDAQ:NRIX) Stock Gets Price Target Cut from Truist Financial

Nurix Therapeutics (NASDAQ:NRIX) had its price target trimmed by Truist Financial from $34.00 to $33.00 in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

NRIX has been the topic of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday. Morgan Stanley upped their target price 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. Mizuho upped their target price on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Friday, July 17th. Finally, UBS Group lifted their price target on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Nurix Therapeutics Stock Performance

NRIX stock opened at $24.95 on Tuesday. The firm has a market cap of $2.73 billion, a P/E ratio of 10.80 and a beta of 1.82. Nurix Therapeutics has a 1 year low of $9.71 and a 1 year high of $28.23. The stock has a 50-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 results on Monday, October 12th. The company reported $4.73 EPS for the quarter, topping the consensus estimate of ($0.60) by $5.33. The firm had revenue of $673.06 million for the quarter, compared to analyst estimates of $24.35 million. Nurix Therapeutics had a return on equity of 49.34% and a net margin of 42.01%. On average, equities research analysts predict that Nurix Therapeutics will post 0.85 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In related news, Director Julia P. Gregory sold 22,583 shares of Nurix Therapeutics stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $23.40, for a total value of $528,442.20. Following the completion of the sale, the director owned 10,750 shares in the company, valued at approximately $251,550. The trade was a 67.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gwenn Hansen sold 1,452 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $25.00, for a total transaction of $36,300.00. Following the completion of the sale, the insider directly owned 117,227 shares in the company, valued at $2,930,675. This represents a 1.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 6.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. General Atlantic L.P. bought a new stake in shares of Nurix Therapeutics in the 4th quarter worth about $92,899,000. Trails Edge Capital Partners LP acquired a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at about $38,166,318. Bank of New York Mellon Corp acquired a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at about $6,614,000. Man Group plc bought a new position in shares of Nurix Therapeutics during the second quarter worth about $2,076,000. Finally, Baker BROS. Advisors LP lifted its position in shares of Nurix Therapeutics by 20.0% during the fourth 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 last quarter.

Nurix Therapeutics News Roundup

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.