Stifel Nicolaus Issues Positive Forecast for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Nurix Therapeutics (NASDAQ:NRIX) had its price objective increased by Stifel Nicolaus from $34.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 79.91% from the stock’s previous close.

Several other research analysts also recently commented on NRIX. BTIG Research began coverage on Nurix Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $35.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 target price on shares of Nurix Therapeutics in a report on Tuesday, December 10th. Royal Bank of Canada lowered their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 14th. BMO Capital Markets assumed coverage on shares of Nurix Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, UBS Group started coverage on shares of Nurix Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.71.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $20.01 on Wednesday. The business has a 50 day moving average of $20.14 and a 200-day moving average of $22.40. The company has a market capitalization of $1.42 billion, a P/E ratio of -6.88 and a beta of 2.14. Nurix Therapeutics has a 1 year low of $7.79 and a 1 year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. Equities analysts anticipate that Nurix Therapeutics will post -2.81 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,690 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $73,246.50. Following the transaction, the insider now owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at approximately $785,047.65. The trade was a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Amalgamated Bank boosted its position in shares of Nurix Therapeutics by 30.6% during the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after buying an additional 511 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Nurix Therapeutics by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after acquiring an additional 559 shares during the last quarter. Quarry LP raised its holdings in shares of Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after purchasing an additional 2,435 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after purchasing an additional 4,119 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in Nurix Therapeutics by 21.3% during the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock worth $168,000 after purchasing an additional 1,312 shares during the last quarter.

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.