Nurix Therapeutics (NASDAQ:NRIX) Now Covered by Oppenheimer

Stock analysts at Oppenheimer started coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report issued to clients and investors on Monday. The brokerage set an “outperform” rating and a $28.00 price target on the stock. Oppenheimer’s price target would indicate a potential upside of 20.40% from the stock’s previous close.

NRIX has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a report on Wednesday, June 10th. Jefferies Financial Group increased their price objective on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Wells Fargo & Company cut shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and cut their target price for the stock from $28.00 to $25.00 in a report on Monday, June 8th. Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of Nurix Therapeutics in a research note on Monday, June 15th. Finally, BTIG Research upped their target price on Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.20.

Nurix Therapeutics Price Performance

Shares of NRIX stock traded up $0.35 on Monday, hitting $23.25. 87,906 shares of the stock traded hands, compared to its average volume of 1,548,487. The company’s fifty day moving average is $16.98 and its 200 day moving average is $17.00. Nurix Therapeutics has a 1-year low of $8.19 and a 1-year high of $23.72. The company has a market capitalization of $2.40 billion, a PE ratio of -7.48 and a beta of 1.86.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). The business had revenue of $6.25 million during the quarter, compared to analyst estimates of $14.25 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%. As a group, equities research analysts expect that Nurix Therapeutics will post -2.88 EPS for the current year.

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 5,394 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction 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. This trade represents a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the sale, the chief financial officer directly owned 37,592 shares in the company, valued at $624,027.20. This trade represents a 27.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,051 shares of company stock valued at $434,466 in the last quarter. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. General Atlantic L.P. purchased a new stake in shares of Nurix Therapeutics in the 4th quarter valued at approximately $92,899,000. Morgan Stanley grew its position in Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after purchasing an additional 2,620,323 shares in the last quarter. Rubric Capital Management LP purchased a new position in Nurix Therapeutics during the 4th quarter worth approximately $46,930,000. Braidwell LP acquired a new stake in Nurix Therapeutics during the 4th quarter valued at $41,428,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Nurix Therapeutics by 195.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,248,361 shares of the company’s stock valued at $61,622,000 after purchasing an additional 2,149,268 shares in the last quarter.

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.