UBS Group Begins Coverage on Nurix Therapeutics (NASDAQ:NRIX)

Equities researchers at UBS Group started coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. UBS Group’s target price suggests a potential upside of 41.24% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada cut their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Barclays lifted their target price on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Needham & Company LLC restated a “buy” rating and set a $29.00 price target on shares of Nurix Therapeutics in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Stephens reiterated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $24.78 on Thursday. Nurix Therapeutics has a twelve month low of $4.22 and a twelve month high of $26.43. The firm has a market cap of $1.22 billion, a PE ratio of -8.49 and a beta of 2.22. The firm’s 50 day moving average price is $23.89 and its two-hundred day moving average price is $19.81.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The business had revenue of $12.59 million for the quarter, compared to analysts’ expectations of $13.85 million. Equities analysts anticipate that Nurix Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,408 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $70,443.36. Following the completion of the transaction, the insider now directly owns 45,150 shares in the company, valued at $933,250.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Houte Hans Van sold 3,477 shares of Nurix Therapeutics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.45, for a total transaction of $74,581.65. Following the sale, the chief financial officer now directly owns 51,002 shares of the company’s stock, valued at $1,093,992.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gwenn Hansen sold 3,408 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $70,443.36. Following the transaction, the insider now owns 45,150 shares in the company, valued at $933,250.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,105 shares of company stock worth $1,507,181 in the last 90 days. 7.20% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

Institutional investors have recently modified their holdings of the company. Driehaus Capital Management LLC bought a new position in Nurix Therapeutics in the second quarter worth $26,778,000. Redmile Group LLC lifted its holdings in shares of Nurix Therapeutics by 37.7% during the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock worth $65,900,000 after acquiring an additional 1,226,497 shares during the period. Samlyn Capital LLC bought a new position in shares of Nurix Therapeutics during the 2nd quarter worth about $12,177,000. Ikarian Capital LLC acquired a new stake in shares of Nurix Therapeutics during the 1st quarter valued at about $4,410,000. Finally, Candriam S.C.A. increased its stake in Nurix Therapeutics by 30.5% in the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after acquiring an additional 272,136 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.