JPMorgan Chase & Co. Cuts Nurix Therapeutics (NASDAQ:NRIX) Price Target to $30.00

Nurix Therapeutics (NASDAQ:NRIX) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $31.00 to $30.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 53.37% from the company’s previous close.

Other analysts have also recently issued reports about the company. HC Wainwright increased their price target on Nurix Therapeutics from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group assumed coverage on Nurix Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $35.00 target price on the stock. BMO Capital Markets began coverage on shares of Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price target for the company. Royal Bank of Canada cut their price objective on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Finally, Stephens restated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.65.

Nurix Therapeutics Stock Down 1.3 %

NASDAQ:NRIX opened at $19.56 on Wednesday. The company has a market cap of $1.39 billion, a PE ratio of -6.72 and a beta of 2.14. The business’s 50 day moving average is $20.20 and its two-hundred day moving average is $22.42. Nurix Therapeutics has a 52 week low of $7.65 and a 52 week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. As a group, sell-side analysts expect that Nurix Therapeutics will post -2.81 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,546 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $24.28, for a total transaction of $86,096.88. Following the sale, the chief financial officer now owns 33,724 shares in the company, valued at approximately $818,818.72. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Amalgamated Bank grew its position in Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after purchasing an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 worth $54,000 after buying an additional 559 shares during the period. Quest Partners LLC grew its holdings in shares of Nurix Therapeutics by 21.3% during the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after buying an additional 1,312 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Nurix Therapeutics by 8.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company’s stock valued at $675,000 after buying an additional 2,329 shares during the period. Finally, Quarry LP lifted its stake in Nurix Therapeutics by 3,746.2% in the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after acquiring an additional 2,435 shares in the last quarter.

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.