Brokerages Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Target Price at $34.08

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $34.0769.

NRIX has been the subject of a number of research analyst reports. BTIG Research reissued a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a research report on Friday, July 10th. Jefferies Financial Group lifted their price target on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Royal Bank Of Canada boosted their price objective on shares of Nurix Therapeutics from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Truist Financial increased their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $34.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $23.12 on Wednesday. The business has a 50-day moving average of $19.09 and a two-hundred day moving average of $17.51. The firm has a market capitalization of $2.40 billion, a PE ratio of -6.70 and a beta of 1.80. Nurix Therapeutics has a 12 month low of $8.19 and a 12 month high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. As a group, research analysts anticipate that Nurix Therapeutics will post -2.82 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00. Following the transaction, the chief financial officer owned 37,592 shares in the company, valued at $624,027.20. The trade was a 27.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the sale, the insider directly owned 115,005 shares of the company’s stock, valued at $2,300,100. The trade was a 4.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 25,051 shares of company stock valued at $434,466. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds have recently modified their holdings of NRIX. Larson Financial Group LLC boosted its holdings in Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after acquiring an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $33,000. KBC Group NV purchased a new stake in shares of Nurix Therapeutics during the first quarter valued at approximately $34,000. Finally, Wexford Capital LP acquired a new position in shares of Nurix Therapeutics during the third quarter worth $41,000.

Nurix Therapeutics Company Profile

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.