Royal Bank of Canada Trims Nurix Therapeutics (NASDAQ:NRIX) Target Price to $26.00

Nurix Therapeutics (NASDAQ:NRIX) had its target price trimmed by Royal Bank of Canada from $27.00 to $26.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird initiated coverage on Nurix Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research note on Monday. Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective for the company. Barclays lifted their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, HC Wainwright upped their target price on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.71.

Nurix Therapeutics Stock Up 3.8 %

Shares of NASDAQ NRIX opened at $25.81 on Monday. The stock has a market capitalization of $1.27 billion, a PE ratio of -8.84 and a beta of 2.22. The firm has a fifty day moving average of $23.55 and a 200-day moving average of $19.47. Nurix Therapeutics has a 52-week low of $4.22 and a 52-week high of $26.31.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share 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 business had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. Equities research analysts expect that Nurix Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Activity

In other news, insider Gwenn Hansen sold 3,408 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the sale, the insider now owns 45,150 shares in the company, valued at $933,250.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.43, for a total transaction of $123,436.80. Following the sale, the insider now directly owns 24,592 shares of the company’s stock, valued at $527,006.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gwenn Hansen sold 3,408 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the transaction, the insider now owns 45,150 shares of the company’s stock, valued at $933,250.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,105 shares of company stock worth $1,507,181 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRIX. GAMMA Investing LLC boosted its position in shares of Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after buying an additional 3,424 shares during the period. EntryPoint Capital LLC purchased a new stake in Nurix Therapeutics in the 1st quarter worth about $123,000. China Universal Asset Management Co. Ltd. boosted its position 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 worth $138,000 after acquiring an additional 3,793 shares during the period. ProShare Advisors LLC grew its stake in Nurix Therapeutics by 9.1% during the 1st 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. Finally, Dark Forest Capital Management LP acquired a new position in shares of Nurix Therapeutics in the 2nd quarter valued at about $201,000.

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.