Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $36.00 at HC Wainwright

Nurix Therapeutics (NASDAQ:NRIX) had its price objective boosted by equities researchers at HC Wainwright from $35.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 84.05% from the stock’s current price.

A number of other equities analysts have also recently issued reports on NRIX. Stephens restated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Royal Bank of Canada cut their target price on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. BMO Capital Markets started coverage on Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price target for the company. Jefferies Financial Group initiated coverage on Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, Needham & Company LLC decreased their target price on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Nurix Therapeutics Price Performance

Shares of NRIX stock opened at $19.56 on Wednesday. The business has a 50-day moving average of $20.20 and a 200 day moving average of $22.42. Nurix Therapeutics has a 1-year low of $7.65 and a 1-year high of $29.56. The stock has a market capitalization of $1.39 billion, a PE ratio of -6.72 and a beta of 2.14.

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

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 3,546 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the sale, the chief financial officer now owns 33,724 shares in the company, valued at $818,818.72. This represents a 9.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its holdings in shares of Nurix Therapeutics by 30.6% during the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after acquiring an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Nurix Therapeutics by 31.6% during the 3rd 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. Quarry LP lifted its stake in shares of Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after buying an additional 2,435 shares in the last quarter. International Assets Investment Management LLC lifted its stake 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 in the last quarter. Finally, Quest Partners LLC increased its position 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 acquiring an additional 1,312 shares in the last quarter.

About Nurix Therapeutics

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.