Nurix Therapeutics (NASDAQ:NRIX) Price Target Increased to $26.00 by Analysts at HC Wainwright

Nurix Therapeutics (NASDAQ:NRIX) had its price objective increased by HC Wainwright from $19.00 to $26.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on NRIX. Stephens initiated coverage on shares of Nurix Therapeutics in a research report on Tuesday, May 14th. They issued an overweight rating and a $20.00 price target for the company. Stifel Nicolaus restated a buy rating and issued a $27.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, May 15th. Robert W. Baird upped their price target on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Needham & Company LLC restated a buy rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $24.80.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $18.44 on Tuesday. The company has a market cap of $906.33 million, a price-to-earnings ratio of -6.93 and a beta of 2.17. The firm has a 50 day simple moving average of $14.94 and a 200 day simple moving average of $12.20. Nurix Therapeutics has a one year low of $4.22 and a one year high of $18.90.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The business had revenue of $16.59 million during the quarter, compared to the consensus estimate of $14.58 million. As a group, analysts expect that Nurix Therapeutics will post -3 EPS for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total value of $44,892.17. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at $876,712.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total value of $44,892.17. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at $876,712.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine Ring sold 1,900 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $17.01, for a total transaction of $32,319.00. Following the completion of the sale, the insider now owns 19,838 shares of the company’s stock, valued at $337,444.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,789 shares of company stock worth $152,023. 9.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NRIX. China Universal Asset Management Co. Ltd. lifted its stake in shares of Nurix Therapeutics by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after buying an additional 4,367 shares in the last quarter. Quest Partners LLC bought a new position in shares of Nurix Therapeutics in the fourth quarter valued at $59,000. EntryPoint Capital LLC bought a new position in shares of Nurix Therapeutics during the first quarter valued at about $123,000. Jump Financial LLC bought a new position in shares of Nurix Therapeutics during the fourth quarter valued at about $158,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Nurix Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock valued at $163,000 after purchasing an additional 4,012 shares in the last quarter.

About Nurix Therapeutics

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.