Nurix Therapeutics (NASDAQ:NRIX) Price Target Increased to $30.00 by Analysts at Oppenheimer

Nurix Therapeutics (NASDAQ:NRIX) had its price target lifted by Oppenheimer from $27.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on NRIX. Stifel Nicolaus reaffirmed a buy rating and set a $27.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, May 15th. Stephens began coverage on shares of Nurix Therapeutics in a report on Tuesday, May 14th. They issued an overweight rating and a $20.00 target price for the company. Piper Sandler restated an overweight rating and set a $35.00 price target on shares of Nurix Therapeutics in a report on Wednesday, June 5th. HC Wainwright increased their price objective on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, June 18th. Finally, Truist Financial assumed coverage on Nurix Therapeutics in a research note on Wednesday, July 31st. They issued a buy rating and a $36.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Nurix Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $26.92.

Nurix Therapeutics Trading Down 0.7 %

Shares of NRIX stock opened at $24.69 on Wednesday. The firm has a fifty day simple moving average of $22.04 and a two-hundred day simple moving average of $17.23. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $26.12. The firm has a market capitalization of $1.59 billion, a PE ratio of -8.46 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The business had revenue of $12.09 million during the quarter, compared to analyst estimates of $19.35 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. On average, equities analysts predict that Nurix Therapeutics will post -2.95 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Christine Ring sold 1,900 shares of Nurix Therapeutics stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $17.01, for a total value of $32,319.00. Following the completion of the sale, the insider now owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Christine Ring sold 1,900 shares of Nurix Therapeutics stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $17.01, for a total value of $32,319.00. Following the completion of the transaction, the insider now owns 19,838 shares in the company, valued at $337,444.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at approximately $781,870.44. The disclosure for this sale can be found here. Insiders have sold 61,715 shares of company stock valued at $1,449,070 in the last 90 days. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Nurix Therapeutics by 248.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 142,146 shares of the company’s stock worth $1,467,000 after purchasing an additional 101,320 shares in the last quarter. Affinity Asset Advisors LLC grew its stake in Nurix Therapeutics by 176.0% during the fourth quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock valued at $7,122,000 after acquiring an additional 440,112 shares in the last quarter. Trexquant Investment LP increased its holdings in Nurix Therapeutics by 80.9% during the 4th quarter. Trexquant Investment LP now owns 159,318 shares of the company’s stock worth $1,644,000 after acquiring an additional 71,252 shares during the period. Acadian Asset Management LLC lifted its stake in Nurix Therapeutics by 576.7% in the 1st quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock worth $2,355,000 after purchasing an additional 136,606 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Nurix Therapeutics by 365.0% in the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock valued at $2,154,000 after purchasing an additional 81,005 shares during the period.

Nurix Therapeutics Company Profile

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.