Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $28.00 at Wells Fargo & Company

Nurix Therapeutics (NASDAQ:NRIX) had its target price reduced by Wells Fargo & Company from $29.00 to $28.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Piper Sandler lifted their target price on Nurix Therapeutics from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Morgan Stanley set a $36.00 target price on Nurix Therapeutics and gave the company an “overweight” rating in a research note on Thursday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of Nurix Therapeutics in a research note on Wednesday. Mizuho lifted their target price on Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.46.

Nurix Therapeutics Trading Up 4.1%

Shares of NRIX opened at $16.24 on Thursday. The business’s 50-day moving average price is $15.70 and its 200 day moving average price is $15.23. The stock has a market capitalization of $1.68 billion, a P/E ratio of -5.14 and a beta of 1.97. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). The company had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $14.25 million. Nurix Therapeutics had a negative return on equity of 65.20% and a negative net margin of 411.37%. On average, research analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 3,661 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $60,772.60. Following the completion of the sale, the chief financial officer directly owned 45,427 shares in the company, valued at approximately $754,088.20. The trade was a 7.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gwenn Hansen sold 4,895 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $81,257.00. Following the completion of the sale, the insider owned 83,672 shares of the company’s stock, valued at approximately $1,388,955.20. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRIX. General Atlantic L.P. acquired a new stake in Nurix Therapeutics in the 4th quarter worth approximately $92,899,000. Morgan Stanley lifted its holdings in Nurix Therapeutics by 115.9% in the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after purchasing an additional 2,620,323 shares during the last quarter. Rubric Capital Management LP acquired a new stake in Nurix Therapeutics in the 4th quarter worth approximately $46,930,000. Braidwell LP acquired a new stake in Nurix Therapeutics in the 4th quarter worth approximately $41,428,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Nurix Therapeutics by 195.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,248,361 shares of the company’s stock worth $61,622,000 after purchasing an additional 2,149,268 shares during the last quarter.

Key Headlines Impacting Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Analyst note — A Seeking Alpha piece reiterates a “Strong Buy” case driven by advancing bexobruditeg toward a pivotal Phase 2/confirmatory pathway and plans to start a global Phase 3 in mid‑2026 versus pirtobrutinib; it also highlights pipeline optionality from a higher‑dose program, an oral immunology formulation and the dual BTK/IKZF degrader zelebrudomide, underlining multiple near‑term value inflection points. Read More.
• Positive Sentiment: Phase‑3 advancement — Nurix announced progress moving NX‑5948 (bexobrutideg) into a Phase 3 randomized, head‑to‑head study in CLL/SLL, a clear clinical development de‑risking step and a pathway toward potential label‑defining data. Read More.
• Positive Sentiment: Broker support — Needham reaffirmed its “buy” rating with a $26 price target, signaling continued analyst conviction and providing upside vs. current levels. Read More.
• Neutral Sentiment: Corporate update — The company’s Q1 press release highlighted enrollment in the DAYBreak CLL‑201 Phase 2 bexobrutideg study designed to support Accelerated Approval, reinforcing the regulatory pathway but without new data yet. Read More.
• Neutral Sentiment: Wells Fargo adjustment — Wells Fargo trimmed its price target slightly to $28 but kept an “overweight” stance, which still implies substantial upside from current levels; the cut may temper some bullish enthusiasm but retains analyst support. Read More.
• Negative Sentiment: Earnings and revenue miss — Q1 EPS of ($0.79) missed consensus by $0.03 and revenue of $6.25M materially trailed expectations (~$14.3M), highlighting widening losses and operating burn. Read More.
• Negative Sentiment: Financial pressure from R&D spend — Coverage notes expanding losses and heavier R&D investment, which increase near‑term cash burn and may require future financing that could dilute shareholders. Read More.
• Neutral Sentiment: Market reaction — Despite the quarterly miss, headlines around the pipeline and Phase‑3 plans appear to have outweighed the weak financials in investor sentiment, helping push the share price higher. Read More.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.