Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $30.35 Consensus Target Price from Brokerages

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $30.35.

NRIX has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and issued a $29.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. BMO Capital Markets started coverage on shares of Nurix Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $35.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $31.00 target price on shares of Nurix Therapeutics in a research report on Monday, October 14th. HC Wainwright upped their price objective on Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Oppenheimer raised their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th.

Insider Activity at Nurix Therapeutics

In related news, insider Christine Ring sold 3,290 shares of Nurix Therapeutics stock in a transaction on Monday, October 14th. The shares were sold at an average price of $25.00, for a total value of $82,250.00. Following the sale, the insider now owns 24,592 shares of the company’s stock, valued at approximately $614,800. This trade represents a 11.80 % decrease in their position. The transaction 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 3,546 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the sale, the chief financial officer now owns 33,724 shares of the company’s stock, valued at approximately $818,818.72. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,401 shares of company stock worth $437,453 over the last three months. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently made changes to their positions in NRIX. Amalgamated Bank grew its holdings in shares of 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. increased its position in Nurix Therapeutics by 31.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after buying an additional 559 shares in the last quarter. 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 purchasing an additional 1,312 shares during the last quarter. ClariVest Asset Management LLC raised its position in shares of Nurix Therapeutics by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock valued at $1,318,000 after buying an additional 1,766 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Nurix Therapeutics by 8.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company’s stock valued at $675,000 after acquiring an additional 2,329 shares during the last quarter.

Nurix Therapeutics Trading Down 1.0 %

Shares of NASDAQ NRIX opened at $20.04 on Tuesday. The firm’s 50-day moving average price is $23.54 and its 200-day moving average price is $22.26. The firm has a market capitalization of $1.42 billion, a P/E ratio of -6.89 and a beta of 2.11. Nurix Therapeutics has a 1-year low of $7.65 and a 1-year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.67). The company had revenue of $12.59 million for the quarter, compared to analysts’ expectations of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. Equities research analysts forecast that Nurix Therapeutics will post -2.81 EPS for the current year.

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.