Brokerages Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Target Price at $34.21

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $34.2143.

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Nurix Therapeutics from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. BTIG Research restated a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research report on Friday, July 10th. Wells Fargo & Company downgraded shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $25.00 in a research report on Monday, June 8th. UBS Group increased their price objective on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Friday, July 17th.

Insider Transactions at Nurix Therapeutics

In other news, CFO Hans van Houte sold 4,761 shares of Nurix Therapeutics stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the completion of the transaction, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total value of $36,982.44. Following the completion of the transaction, the insider directly owned 117,227 shares in the company, valued at $2,985,771.69. This represents a 1.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 26,766 shares of company stock valued at $626,343. Company insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC grew its position in shares of Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after buying an additional 1,190 shares during the period. Nykredit A S acquired a new position in shares of Nurix Therapeutics during the 2nd quarter valued at $32,000. California State Teachers Retirement System boosted its stake in Nurix Therapeutics by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 68,019 shares of the company’s stock worth $1,290,000 after acquiring an additional 1,476 shares in the last quarter. Intesa Sanpaolo Wealth Management bought a new position in Nurix Therapeutics during the fourth quarter worth $31,000. Finally, Royal Bank of Canada grew its holdings in Nurix Therapeutics by 17.6% in the fourth quarter. Royal Bank of Canada now owns 10,842 shares of the company’s stock worth $206,000 after purchasing an additional 1,623 shares during the period.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $26.14 on Thursday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -7.58 and a beta of 1.80. Nurix Therapeutics has a twelve month low of $8.19 and a twelve month high of $28.23. The stock has a fifty day simple moving average of $24.95 and a 200 day simple moving average of $19.43.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The company had revenue of $9.04 million for the quarter, compared to the consensus estimate of $15.29 million. Research analysts expect that Nurix Therapeutics will post -2.73 earnings per share for the current fiscal year.

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.