Analysts Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Price Target at $26.67

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $26.6667.

NRIX has been the subject of a number of recent analyst reports. Baird R W upgraded Nurix Therapeutics to a “strong-buy” rating in a report on Tuesday, August 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $29.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, October 22nd. Piper Sandler decreased their price objective on shares of Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Morgan Stanley cut their target price on shares of Nurix Therapeutics from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Wednesday, October 8th.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 6,284 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $12.56, for a total value of $78,927.04. Following the completion of the transaction, the chief financial officer owned 37,592 shares in the company, valued at $472,155.52. This trade represents a 14.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gwenn Hansen sold 4,087 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $12.80, for a total value of $52,313.60. Following the sale, the insider owned 76,751 shares in the company, valued at $982,412.80. This represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 13,501 shares of company stock worth $171,305. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Nurix Therapeutics by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,488,776 shares of the company’s stock worth $41,476,000 after buying an additional 23,269 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Nurix Therapeutics by 2.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,428,283 shares of the company’s stock worth $28,849,000 after acquiring an additional 47,855 shares in the last quarter. Vestal Point Capital LP boosted its stake in Nurix Therapeutics by 77.7% during the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the company’s stock worth $22,780,000 after acquiring an additional 874,448 shares in the last quarter. Geode Capital Management LLC grew its holdings in Nurix Therapeutics by 9.1% in the second quarter. Geode Capital Management LLC now owns 1,881,960 shares of the company’s stock worth $21,437,000 after purchasing an additional 157,592 shares during the period. Finally, ARK Investment Management LLC increased its stake in shares of Nurix Therapeutics by 4.0% during the first quarter. ARK Investment Management LLC now owns 1,590,910 shares of the company’s stock valued at $18,900,000 after purchasing an additional 60,617 shares in the last quarter.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $12.31 on Friday. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $29.56. The stock has a market capitalization of $946.39 million, a PE ratio of -4.14 and a beta of 2.30. The business’s 50-day moving average is $10.02 and its 200 day moving average is $10.70.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Thursday, October 9th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The business had revenue of $7.89 million for the quarter, compared to the consensus estimate of $16.06 million. Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. As a group, equities research analysts anticipate that Nurix Therapeutics will post -2.99 earnings per share for the current year.

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.