Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $35.00

Nurix Therapeutics (NASDAQ:NRIX) had its price objective upped by HC Wainwright from $30.00 to $35.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. UBS Group assumed coverage on Nurix Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $35.00 price target for the company. Robert W. Baird began coverage on Nurix Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $26.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $29.00 target price on shares of Nurix Therapeutics in a research note on Tuesday. Finally, BTIG Research started coverage on shares of Nurix Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $35.00 price target on the stock. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.35.

Nurix Therapeutics Trading Down 1.4 %

NASDAQ:NRIX opened at $20.27 on Wednesday. Nurix Therapeutics has a 12-month low of $7.65 and a 12-month high of $29.56. The firm has a market cap of $1.44 billion, a PE ratio of -6.97 and a beta of 2.11. The stock has a fifty day moving average price of $23.64 and a 200 day moving average price of $22.12.

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

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 3,437 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total transaction of $83,519.10. Following the completion of the sale, the insider now directly owns 50,670 shares of the company’s stock, valued at $1,231,281. This trade represents a 6.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 3,546 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $24.28, for a total transaction of $86,096.88. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at $818,818.72. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,401 shares of company stock valued at $437,453 over the last quarter. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently made changes to their positions in NRIX. Driehaus Capital Management LLC purchased a new position in Nurix Therapeutics during the second quarter worth about $26,778,000. Samlyn Capital LLC purchased a new position in Nurix Therapeutics during the second quarter worth about $12,177,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Nurix Therapeutics during the third quarter worth about $12,432,000. FMR LLC raised its holdings in Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after purchasing an additional 511,256 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Nurix Therapeutics during the third quarter worth about $7,879,000.

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.