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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $30.35.

A number of equities analysts recently issued reports on the stock. HC Wainwright upped their price objective on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Stephens reiterated an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a report on Monday, October 14th. BTIG Research assumed 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. BMO Capital Markets began coverage on Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 14th.

Insider Activity

In related news, insider Gwenn Hansen sold 3,437 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $83,519.10. Following the transaction, the insider now owns 50,670 shares in the company, valued at $1,231,281. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 3,546 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $24.28, for a total transaction of $86,096.88. Following the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at approximately $818,818.72. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,351 shares of company stock valued at $227,158. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in Nurix Therapeutics by 8.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock valued at $78,243,000 after buying an additional 280,240 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nurix Therapeutics by 9.6% during the third quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company’s stock valued at $32,544,000 after acquiring an additional 126,306 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Nurix Therapeutics during the second quarter worth approximately $26,778,000. Affinity Asset Advisors LLC lifted its holdings in shares of Nurix Therapeutics by 12.6% in the 2nd quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock worth $19,033,000 after purchasing an additional 101,747 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Nurix Therapeutics by 60.2% in the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after purchasing an additional 225,374 shares in the last quarter.

Nurix Therapeutics Stock Up 4.2 %

Shares of NRIX stock opened at $19.01 on Friday. The business has a fifty day simple moving average of $21.57 and a 200 day simple moving average of $22.50. The company has a market cap of $1.35 billion, a P/E ratio of -6.53 and a beta of 2.14. Nurix Therapeutics has a twelve month low of $7.65 and a twelve month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The firm had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. As a group, equities research analysts anticipate that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

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.