Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $17.00 at Morgan Stanley

Nurix Therapeutics (NASDAQ:NRIX) had its price target raised by analysts at Morgan Stanley from $16.00 to $17.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 13.75% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. UBS Group began coverage on shares of Nurix Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Jefferies Financial Group started coverage on shares of Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 target price for the company. Needham & Company LLC lowered their price objective on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Stephens reiterated an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Nurix Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $31.12.

Nurix Therapeutics Stock Down 1.5 %

NASDAQ NRIX opened at $19.71 on Monday. The firm has a 50-day moving average price of $20.05 and a two-hundred day moving average price of $22.37. The company has a market capitalization of $1.50 billion, a P/E ratio of -6.82 and a beta of 2.14. Nurix Therapeutics has a 12-month low of $7.79 and a 12-month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. Equities analysts expect that Nurix Therapeutics will post -2.92 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the sale, the chief financial officer now directly owns 39,549 shares of the company’s stock, valued at approximately $785,047.65. This represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the sale, the insider now directly owns 55,937 shares in the company, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.80% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Nurix Therapeutics by 8.8% during the third quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock worth $78,243,000 after acquiring an additional 280,240 shares in the last quarter. Geode Capital Management LLC boosted its stake in Nurix Therapeutics by 9.6% during the third quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company’s stock worth $32,544,000 after acquiring an additional 126,306 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Nurix Therapeutics by 42.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company’s stock worth $14,869,000 after acquiring an additional 235,971 shares in the last quarter. Millennium Management LLC boosted its stake in Nurix Therapeutics by 60.2% during the second quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after acquiring an additional 225,374 shares in the last quarter. Finally, FMR LLC boosted its stake in Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after acquiring an additional 511,256 shares in the last quarter.

About Nurix Therapeutics

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.