Analysts Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Price Target at $34.00

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $34.2143.

A number of research firms recently commented on NRIX. Wall Street Zen raised shares of Nurix Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company cut shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and dropped their target price for the company from $28.00 to $25.00 in a report on Monday, June 8th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, August 4th. Mizuho upped their price target on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Stifel Nicolaus upped their price target on Nurix Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 10th.

Nurix Therapeutics Price Performance

Shares of NRIX stock opened at $27.19 on Friday. The business’s fifty day moving average price is $22.08 and its 200 day moving average price is $18.26. The firm has a market capitalization of $2.82 billion, a PE ratio of -7.88 and a beta of 1.79. Nurix Therapeutics has a 1-year low of $8.19 and a 1-year high of $27.35.

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

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 4,356 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $25.00, for a total value of $108,900.00. Following the completion of the transaction, the insider owned 117,227 shares in the company, valued at $2,930,675. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of Nurix Therapeutics stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the transaction, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at $978,443.76. This trade represents a 10.60% decrease in their position. 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. Over the last quarter, insiders have sold 25,314 shares of company stock worth $589,361. 6.70% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC increased its stake 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 purchasing an additional 1,190 shares in the last quarter. California State Teachers Retirement System lifted its stake in Nurix Therapeutics by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company’s stock valued at $1,290,000 after buying an additional 1,476 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new stake in Nurix Therapeutics in the 4th quarter valued at approximately $31,000. Royal Bank of Canada grew its holdings in Nurix Therapeutics by 17.6% during the 4th quarter. Royal Bank of Canada now owns 10,842 shares of the company’s stock valued at $206,000 after buying an additional 1,623 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Nurix Therapeutics by 8.2% during the 4th quarter. Arizona State Retirement System now owns 21,990 shares of the company’s stock valued at $417,000 after buying an additional 1,674 shares during the last quarter.

About Nurix Therapeutics

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.