Nurix Therapeutics (NASDAQ:NRIX) Now Covered by Analysts at UBS Group

Equities researchers at UBS Group assumed coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a note issued to investors on Thursday, Briefing.com reports. The firm set a “buy” rating and a $35.00 price target on the stock. UBS Group’s price objective indicates a potential upside of 41.24% from the company’s previous close.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price target on Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Truist Financial began coverage on Nurix Therapeutics in a research note on Wednesday, July 31st. They issued a “buy” rating and a $36.00 target price for the company. Stephens reiterated an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday, October 14th. Royal Bank of Canada lowered their price objective on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $29.00 target price on shares of Nurix Therapeutics in a research report on Monday. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX opened at $24.78 on Thursday. The company has a market capitalization of $1.22 billion, a PE ratio of -8.49 and a beta of 2.22. The company’s fifty day moving average is $23.89 and its 200-day moving average is $19.81. Nurix Therapeutics has a 52 week low of $4.22 and a 52 week high of $26.43.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting analysts’ consensus estimates of ($0.67). The firm had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. On average, analysts forecast that Nurix Therapeutics will post -2.95 EPS for the current year.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 20,000 shares of Nurix Therapeutics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the transaction, the chief financial officer now owns 31,002 shares in the company, valued at $781,870.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at approximately $781,870.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christine Ring sold 3,290 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the completion of the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $614,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,105 shares of company stock worth $1,507,181 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 valued at $54,000 after purchasing an additional 559 shares in the last quarter. GAMMA Investing LLC boosted its position in Nurix Therapeutics by 299.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after acquiring an additional 3,424 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Nurix Therapeutics by 1,098.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after acquiring an additional 4,119 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Nurix Therapeutics during the 1st quarter worth approximately $123,000. Finally, ProShare Advisors LLC raised its holdings in shares of Nurix Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock valued at $176,000 after purchasing an additional 998 shares during 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.