BTIG Research Has Lowered Expectations for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Nurix Therapeutics (NASDAQ:NRIX) had its target price dropped by stock analysts at BTIG Research from $35.00 to $27.00 in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 143.46% from the company’s current price.

Other analysts also recently issued research reports about the stock. Oppenheimer lowered their target price on shares of Nurix Therapeutics from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 10th. Baird R W upgraded shares of Nurix Therapeutics to a “strong-buy” rating in a report on Tuesday, August 26th. Mizuho began coverage on shares of Nurix Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $24.00 target price for the company. Stifel Nicolaus set a $33.00 target price on shares of Nurix Therapeutics in a report on Friday, October 10th. Finally, Wells Fargo & Company set a $22.00 target price on shares of Nurix Therapeutics in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.07.

Nurix Therapeutics Trading Up 6.6%

Nurix Therapeutics stock opened at $11.09 on Thursday. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56. The firm has a market capitalization of $852.60 million, a price-to-earnings ratio of -3.73 and a beta of 2.33. The firm’s fifty day moving average price is $9.49 and its two-hundred day moving average price is $10.53.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, October 9th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The business had revenue of $7.89 million during the quarter, compared to the consensus estimate of $16.06 million. Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. On average, research analysts forecast that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 5,402 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $11.03, for a total transaction of $59,584.06. Following the completion of the sale, the chief financial officer owned 35,512 shares in the company, valued at approximately $391,697.36. This trade represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gwenn Hansen sold 4,308 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total transaction of $51,739.08. Following the sale, the insider owned 69,023 shares of the company’s stock, valued at $828,966.23. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,014 shares of company stock valued at $163,014 in the last 90 days. 7.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in Nurix Therapeutics by 118.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock worth $73,000 after buying an additional 3,475 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in Nurix Therapeutics during the second quarter worth about $114,000. E Fund Management Co. Ltd. bought a new position in Nurix Therapeutics during the first quarter worth about $122,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Nurix Therapeutics during the second quarter worth about $141,000. Finally, Sei Investments Co. bought a new position in Nurix Therapeutics during the second quarter worth about $158,000.

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.