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

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

Several equities analysts have recently issued reports on the stock. UBS Group started coverage on shares of Nurix Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $35.00 price objective on the stock. Robert W. Baird initiated coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research report on Monday, October 14th. HC Wainwright lifted their target price on Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group assumed coverage on Nurix Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $41.00 target price on the stock.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX opened at $19.83 on Tuesday. Nurix Therapeutics has a 1 year low of $7.65 and a 1 year high of $29.56. The firm has a market cap of $1.40 billion, a P/E ratio of -6.81 and a beta of 2.11. The stock has a fifty day moving average price of $23.46 and a two-hundred day moving average price of $22.33.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share 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. On average, research analysts predict that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other news, insider Christine Ring sold 3,290 shares of the company’s 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 transaction, the insider now directly owns 24,592 shares of the company’s stock, valued at approximately $614,800. This represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Houte Hans Van sold 2,368 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $57,542.40. Following the completion of the transaction, the chief financial officer now owns 37,270 shares in the company, valued at $905,661. This trade represents a 5.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,401 shares of company stock worth $437,453. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its stake in shares of 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 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 during the last quarter. Quarry LP raised its holdings in Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after buying an additional 2,435 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Nurix Therapeutics by 1,098.4% in the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after buying an additional 4,119 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Nurix Therapeutics by 21.3% during the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock worth $168,000 after acquiring an additional 1,312 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.