Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $30.00

Nurix Therapeutics (NASDAQ:NRIX) had its target price boosted by Wells Fargo & Company from $21.00 to $30.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also issued reports on NRIX. HC Wainwright increased their price objective on shares of Nurix Therapeutics from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Baird R W upgraded shares of Nurix Therapeutics to a “strong-buy” rating in a report on Tuesday, August 26th. BTIG Research increased their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Mizuho raised their price objective on Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Finally, Stifel Nicolaus set a $33.00 price objective on Nurix Therapeutics in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nurix Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $27.73.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $18.01 on Tuesday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -6.06 and a beta of 1.87. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $22.50. The stock’s 50-day moving average is $14.30 and its 200-day moving average is $11.96.

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

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,087 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $12.80, for a total value of $52,313.60. Following the completion of the transaction, the insider directly owned 76,751 shares of the company’s stock, valued at $982,412.80. This represents a 5.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 6,284 shares of Nurix Therapeutics stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $12.56, for a total value of $78,927.04. Following the sale, the chief financial officer directly owned 37,592 shares in the company, valued at approximately $472,155.52. The trade was a 14.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 13,501 shares of company stock valued at $171,305. 7.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Nurix Therapeutics by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,415,122 shares of the company’s stock worth $52,452,000 after buying an additional 69,856 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Nurix Therapeutics by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 582,066 shares of the company’s stock worth $6,915,000 after acquiring an additional 9,232 shares in the last quarter. Swiss National Bank grew its holdings in Nurix Therapeutics by 9.2% during the 1st quarter. Swiss National Bank now owns 116,700 shares of the company’s stock worth $1,386,000 after acquiring an additional 9,800 shares in the last quarter. Invesco Ltd. increased its position in shares of Nurix Therapeutics by 126.3% in the 1st quarter. Invesco Ltd. now owns 117,635 shares of the company’s stock worth $1,398,000 after purchasing an additional 65,655 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Nurix Therapeutics in the 1st quarter valued at about $2,009,000.

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.