Nurix Therapeutics (NASDAQ:NRIX) Price Target Increased to $23.00 by Analysts at Royal Bank of Canada

Nurix Therapeutics (NASDAQ:NRIX) had its target price lifted by analysts at Royal Bank of Canada from $22.00 to $23.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 37.40% from the company’s previous close.

NRIX has been the topic of several other reports. Wells Fargo & Company reduced their price objective on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. HC Wainwright reduced their price objective on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Morgan Stanley raised their price objective on Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Needham & Company LLC restated a “buy” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday. Finally, Robert W. Baird raised their price objective on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Nurix Therapeutics Trading Down 2.7 %

Nurix Therapeutics stock opened at $16.74 on Thursday. The stock has a market cap of $822.77 million, a P/E ratio of -6.29 and a beta of 2.06. The stock has a 50 day moving average of $12.64 and a 200-day moving average of $9.26. Nurix Therapeutics has a 52 week low of $4.22 and a 52 week high of $18.12.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.26). The business had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $30.66 million. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 62.54%. As a group, equities analysts predict that Nurix Therapeutics will post -3.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 6,812 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $10.02, for a total transaction of $68,256.24. Following the transaction, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at $684,696.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 10,817 shares of company stock valued at $100,256 over the last three months. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NRIX. State Street Corp increased its holdings in shares of Nurix Therapeutics by 47.8% during the first quarter. State Street Corp now owns 2,302,544 shares of the company’s stock valued at $32,259,000 after purchasing an additional 744,832 shares during the period. FMR LLC grew its holdings in Nurix Therapeutics by 59.6% during the second quarter. FMR LLC now owns 1,790,655 shares of the company’s stock worth $22,688,000 after acquiring an additional 668,632 shares during the period. Wasatch Advisors LP grew its holdings in Nurix Therapeutics by 25.0% during the first quarter. Wasatch Advisors LP now owns 3,174,002 shares of the company’s stock worth $28,185,000 after acquiring an additional 635,370 shares during the period. ARK Investment Management LLC grew its holdings in Nurix Therapeutics by 23.2% during the fourth quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock worth $32,972,000 after acquiring an additional 601,952 shares during the period. Finally, Bank of America Corp DE grew its holdings in Nurix Therapeutics by 453.6% during the fourth quarter. Bank of America Corp DE now owns 721,539 shares of the company’s stock worth $7,922,000 after acquiring an additional 591,198 shares during the period.

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.