Nurix Therapeutics (NASDAQ:NRIX) Stock Gets Price Target Cut from Wells Fargo & Company

Nurix Therapeutics (NASDAQ:NRIX) had its price target trimmed by Wells Fargo & Company from $25.00 to $20.00 in a report published on Wednesday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the company. BTIG Research reiterated a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a research report on Friday, July 10th. UBS Group boosted their price target on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Robert W. Baird upped their price objective on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Stifel Nicolaus set a $41.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, October 13th. Finally, Truist Financial decreased their price objective on shares of Nurix Therapeutics from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.43.

Nurix Therapeutics Price Performance

NRIX stock traded up $0.46 during mid-day trading on Wednesday, reaching $15.30. 2,974,970 shares of the company’s stock were exchanged, compared to its average volume of 2,689,646. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 6.62 and a beta of 1.80. The stock’s 50 day moving average is $24.26 and its 200 day moving average is $20.21. Nurix Therapeutics has a 12-month low of $11.67 and a 12-month high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $4.73 EPS for the quarter, beating the consensus estimate of ($0.60) by $5.33. The company 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, research analysts forecast that Nurix Therapeutics will post 1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Hans van Houte sold 4,769 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $15.63, for a total transaction of $74,539.47. Following the completion of the transaction, the chief financial officer owned 42,745 shares of the company’s stock, valued at $668,104.35. This represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Gregory sold 22,583 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 10,750 shares in the company, valued at approximately $251,550. This trade represents a 67.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 38,499 shares of company stock worth $893,645. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several large investors have recently made changes to their positions in NRIX. GAMMA Investing LLC lifted its holdings in Nurix Therapeutics by 95.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,270 shares of the company’s stock valued at $30,000 after purchasing an additional 620 shares in the last quarter. Nykredit A S acquired a new stake in Nurix Therapeutics during the 2nd quarter worth $32,000. Integrated Wealth Concepts LLC acquired a new stake in Nurix Therapeutics during the 2nd quarter worth $33,000. KBC Group NV purchased a new stake in shares of Nurix Therapeutics during the first quarter worth $34,000. Finally, Fifth Third Bancorp grew its holdings in shares of Nurix Therapeutics by 613.8% during the third quarter. Fifth Third Bancorp now owns 1,556 shares of the company’s stock worth $37,000 after buying an additional 1,338 shares in the last quarter.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that regulate the activity and abundance of proteins involved in cancer and immune-related diseases. Its research is based on targeted protein modulation, including the use of the ubiquitin-proteasome system and E3 ligases to selectively eliminate or modify disease-causing proteins.

The company’s pipeline includes oral targeted protein degraders and other small-molecule therapies. Its investigational programs include NX-5948, a Bruton’s tyrosine kinase (BTK) degrader being studied in B-cell malignancies and autoimmune diseases, and NX-2127, an orally administered BTK degrader designed to combine BTK degradation with immune-system modulation.