Stephens Reaffirms Overweight Rating for Nurix Therapeutics (NASDAQ:NRIX)

Stephens reissued their overweight rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report sent to investors on Monday, Benzinga reports. They currently have a $31.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $29.00 price target on shares of Nurix Therapeutics in a research note on Monday. HC Wainwright raised their target price on Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Oppenheimer upped their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial began coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Robert W. Baird started coverage on shares of Nurix Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.71.

Nurix Therapeutics Price Performance

NRIX opened at $25.81 on Monday. Nurix Therapeutics has a fifty-two week low of $4.22 and a fifty-two week high of $26.31. The firm has a market capitalization of $1.27 billion, a P/E ratio of -8.84 and a beta of 2.22. The company’s 50-day moving average is $23.55 and its 200 day moving average is $19.47.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.67). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The company had revenue of $12.59 million during the quarter, compared to analyst estimates of $13.85 million. On average, equities research analysts expect that Nurix Therapeutics will post -2.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 2,490 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the completion of the transaction, the chief financial officer now directly owns 54,479 shares in the company, valued at approximately $1,126,080.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christine Ring sold 5,760 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.43, for a total transaction of $123,436.80. Following the completion of the sale, the insider now directly owns 24,592 shares in the company, valued at $527,006.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $51,468.30. Following the completion of the transaction, the chief financial officer now directly owns 54,479 shares in the company, valued at $1,126,080.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,105 shares of company stock worth $1,507,181 in the last ninety days. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors have recently added to or reduced their stakes in NRIX. ProShare Advisors LLC raised its holdings in shares of Nurix Therapeutics by 9.1% during the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock valued at $176,000 after acquiring an additional 998 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in Nurix Therapeutics by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $1,318,000 after acquiring an additional 1,766 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Nurix Therapeutics by 3.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 50,838 shares of the company’s stock valued at $747,000 after purchasing an additional 1,820 shares in the last quarter. GAMMA Investing LLC increased its stake in Nurix Therapeutics by 299.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after purchasing an additional 3,424 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Nurix Therapeutics by 67.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock valued at $138,000 after purchasing an additional 3,793 shares in the last quarter.

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.