Nurix Therapeutics (NASDAQ:NRIX) Coverage Initiated by Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group began coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report issued on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $41.00 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 73.51% from the company’s current price.

Several other brokerages also recently issued reports on NRIX. Oppenheimer raised their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Robert W. Baird assumed coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $26.00 price target for the company. Barclays lifted their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada upped their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Finally, Truist Financial began coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price target on the stock. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX opened at $23.63 on Friday. The company’s fifty day moving average is $23.27 and its two-hundred day moving average is $19.24. Nurix Therapeutics has a 1-year low of $4.22 and a 1-year high of $26.31. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -8.09 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The business had revenue of $12.09 million during the quarter, compared to the consensus estimate of $19.35 million. Sell-side analysts expect that Nurix Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,490 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the sale, the chief financial officer now directly owns 54,479 shares in the company, valued at approximately $1,126,080.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the transaction, the chief financial officer now owns 54,479 shares in the company, valued at approximately $1,126,080.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.43, for a total value of $123,436.80. Following the completion of the transaction, the insider now directly owns 24,592 shares in the company, valued at $527,006.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,815 shares of company stock valued at $1,424,931 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors have recently bought and sold shares of NRIX. Acadian Asset Management LLC boosted its holdings in shares of Nurix Therapeutics by 576.7% in the first quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock worth $2,355,000 after buying an additional 136,606 shares during the period. SG Americas Securities LLC grew its position in Nurix Therapeutics by 365.0% during the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock worth $2,154,000 after purchasing an additional 81,005 shares in the last quarter. Renaissance Technologies LLC grew its position in Nurix Therapeutics by 80.7% during the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after purchasing an additional 144,700 shares in the last quarter. TD Asset Management Inc purchased a new stake in shares of Nurix Therapeutics in the second quarter valued at $593,000. Finally, Candriam S.C.A. boosted its position in shares of Nurix Therapeutics by 30.5% in the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after buying an additional 272,136 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.