Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $17.00

Nurix Therapeutics (NASDAQ:NRIX) had its price target hoisted by Morgan Stanley from $16.00 to $17.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms also recently weighed in on NRIX. BTIG Research started coverage on Nurix Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. HC Wainwright increased their target price on shares of Nurix Therapeutics from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Stephens reaffirmed an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Finally, UBS Group assumed coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $31.12.

Nurix Therapeutics Stock Down 3.9 %

Shares of NRIX opened at $18.95 on Monday. The stock’s 50-day moving average price is $20.05 and its 200 day moving average price is $22.37. Nurix Therapeutics has a 12-month low of $7.92 and a 12-month high of $29.56. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -6.56 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. Equities research analysts expect that Nurix Therapeutics will post -2.92 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 2,811 shares of the 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 $785,047.65. This represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics 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 completion of the sale, the insider now directly owns 55,937 shares in the company, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

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

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.