Nurix Therapeutics’ (NRIX) “Overweight” Rating Reiterated at Stephens

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “overweight” rating restated by analysts at Stephens in a report issued on Monday, Benzinga reports. They currently have a $31.00 price target on the stock. Stephens’ target price would suggest a potential upside of 24.65% from the stock’s current price.

Several other analysts have also recently commented on the company. Royal Bank of Canada raised their price target on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Truist Financial initiated coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price objective for the company. Barclays lifted their price objective on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Nurix Therapeutics in a report on Monday. Finally, HC Wainwright lifted their price objective on Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

Nurix Therapeutics Price Performance

NRIX opened at $24.87 on Monday. The business has a 50 day simple moving average of $23.44 and a 200-day simple moving average of $19.42. The stock has a market capitalization of $1.22 billion, a P/E ratio of -8.52 and a beta of 2.22. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $26.31.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting the consensus estimate of ($0.67). The business had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. Research analysts anticipate that Nurix Therapeutics will post -2.95 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In other news, insider Christine Ring sold 3,290 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $25.00, for a total value of $82,250.00. Following the completion of the transaction, the insider now directly owns 24,592 shares of the company’s stock, valued at $614,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Christine Ring sold 3,290 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $25.00, for a total value of $82,250.00. Following the completion of the transaction, the insider now directly owns 24,592 shares of the company’s stock, valued at $614,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Houte Hans Van sold 20,000 shares of Nurix Therapeutics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.22, for a total value of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at approximately $781,870.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,105 shares of company stock valued at $1,507,181 over the last three months. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC grew its position in Nurix Therapeutics by 37.7% during the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after acquiring an additional 1,226,497 shares during the period. Driehaus Capital Management LLC purchased a new stake in Nurix Therapeutics during the second quarter valued at about $26,778,000. Candriam S.C.A. grew its position in Nurix Therapeutics by 30.5% during the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after acquiring an additional 272,136 shares during the period. Affinity Asset Advisors LLC grew its position in Nurix Therapeutics by 12.6% during the second quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock valued at $19,033,000 after acquiring an additional 101,747 shares during the period. Finally, Millennium Management LLC grew its position in Nurix Therapeutics by 60.2% during the second quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock valued at $12,514,000 after acquiring an additional 225,374 shares during the period.

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.