Nurix Therapeutics (NASDAQ:NRIX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Nurix Therapeutics (NASDAQ:NRIX) had its price target increased by stock analysts at Stifel Nicolaus from $34.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 84.05% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Royal Bank of Canada decreased their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. BTIG Research initiated coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 price objective for the company. UBS Group started coverage on Nurix Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $35.00 target price on the stock. BMO Capital Markets started coverage on Nurix Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $35.00 price target for the company. Finally, Stephens reiterated an “overweight” rating and set a $31.00 target price on shares of Nurix Therapeutics in a report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Nurix Therapeutics Stock Down 1.3 %

NASDAQ NRIX opened at $19.56 on Wednesday. The firm has a 50-day moving average price of $20.20 and a 200 day moving average price of $22.42. The stock has a market capitalization of $1.39 billion, a P/E ratio of -6.72 and a beta of 2.14. Nurix Therapeutics has a 52-week low of $7.65 and a 52-week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. On average, equities research analysts expect that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

Insider Activity

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,546 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $24.28, for a total value of $86,096.88. Following the transaction, the chief financial officer now owns 33,724 shares in the company, valued at $818,818.72. The trade was a 9.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. bought a new position in Nurix Therapeutics during the third quarter worth $12,432,000. FMR LLC raised its holdings in shares of Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after purchasing an additional 511,256 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Nurix Therapeutics in the 3rd quarter worth about $7,879,000. Patient Square Capital LP acquired a new position in shares of Nurix Therapeutics in the 3rd quarter valued at about $7,320,000. Finally, Wellington Management Group LLP grew its position in shares of Nurix Therapeutics by 8.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock valued at $78,243,000 after buying an additional 280,240 shares during 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.