Nurix Therapeutics (NASDAQ:NRIX) PT Raised to $27.00

Nurix Therapeutics (NASDAQ:NRIX) had its price target lifted by Royal Bank of Canada from $26.00 to $27.00 in a research report sent to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on NRIX. Robert W. Baird increased their price target on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Needham & Company LLC cut their target price on Nurix Therapeutics from $31.00 to $29.00 and set a buy rating on the stock in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of Nurix Therapeutics from $30.00 to $31.00 and gave the stock an overweight rating in a research report on Monday, June 17th. Stifel Nicolaus reiterated a buy rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, May 15th. Finally, Stephens assumed coverage on shares of Nurix Therapeutics in a research report on Tuesday, May 14th. They issued an overweight rating and a $20.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $25.00.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $23.82 on Friday. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $23.99. The business’s fifty day moving average price is $17.32 and its 200 day moving average price is $13.67. The stock has a market capitalization of $1.17 billion, a PE ratio of -8.16 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.08). The business had revenue of $12.09 million during the quarter, compared to analyst estimates of $19.35 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 82.08%. As a group, research analysts anticipate that Nurix Therapeutics will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.01, for a total value of $27,147.96. Following the completion of the sale, the insider now directly owns 19,838 shares in the company, valued at $337,444.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the sale, the insider now directly owns 19,838 shares in the company, valued at $337,444.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the transaction, the chief financial officer now owns 68,333 shares of the company’s stock, valued at approximately $876,712.39. The disclosure for this sale can be found here. Insiders have sold 16,549 shares of company stock worth $271,888 over the last quarter. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Nurix Therapeutics by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 145,053 shares of the company’s stock worth $1,140,000 after acquiring an additional 4,163 shares during the last quarter. Vanguard Group Inc. raised its holdings in Nurix Therapeutics by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,714,845 shares of the company’s stock worth $21,339,000 after buying an additional 22,804 shares during the period. Exchange Traded Concepts LLC lifted its stake in Nurix Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock valued at $163,000 after buying an additional 4,012 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Nurix Therapeutics by 28.9% in the fourth quarter. SG Americas Securities LLC now owns 26,601 shares of the company’s stock worth $275,000 after buying an additional 5,962 shares during the period. Finally, Raymond James & Associates increased its position in shares of Nurix Therapeutics by 3.1% in the fourth quarter. Raymond James & Associates now owns 101,006 shares of the company’s stock worth $1,042,000 after acquiring an additional 3,018 shares in the last quarter.

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.