Analysts Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Target Price at $20.40

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $21.33.

NRIX has been the subject of several analyst reports. Robert W. Baird raised their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley boosted their price objective on Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Wells Fargo & Company reduced their price target on shares of Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Royal Bank of Canada boosted their price objective on Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 9th.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,812 shares of Nurix Therapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.02, for a total value of $68,256.24. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at approximately $684,696.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 10,817 shares of company stock worth $100,256 in the last three months. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in shares of Nurix Therapeutics by 47.8% in the first quarter. State Street Corp now owns 2,302,544 shares of the company’s stock valued at $32,259,000 after acquiring an additional 744,832 shares in the last quarter. FMR LLC lifted its position in shares of 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 purchasing an additional 668,632 shares during the last quarter. Wasatch Advisors LP boosted its position in Nurix Therapeutics by 25.0% in the 1st quarter. Wasatch Advisors LP now owns 3,174,002 shares of the company’s stock valued at $28,185,000 after buying an additional 635,370 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Nurix Therapeutics by 23.2% in the fourth quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock valued at $32,972,000 after purchasing an additional 601,952 shares during the period. Finally, Bank of America Corp DE increased its position in Nurix Therapeutics by 453.6% during the 4th quarter. Bank of America Corp DE now owns 721,539 shares of the company’s stock valued at $7,922,000 after purchasing an additional 591,198 shares during the period.

Nurix Therapeutics Price Performance

NRIX stock opened at $16.74 on Thursday. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $18.12. The stock has a market capitalization of $822.77 million, a PE ratio of -6.29 and a beta of 2.06. The company’s 50-day moving average is $12.64 and its 200-day moving average is $9.27.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.26). The firm had revenue of $15.16 million for the quarter, compared to the consensus estimate of $30.66 million. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. On average, analysts anticipate that Nurix Therapeutics will post -3.26 earnings per share for the current fiscal year.

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.