Nurix Therapeutics (NASDAQ:NRIX) PT Raised to $27.00

Nurix Therapeutics (NASDAQ:NRIX) had its price objective boosted by stock analysts at Royal Bank of Canada from $26.00 to $27.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 22.12% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, May 15th. Piper Sandler reissued an “overweight” rating and issued a $35.00 target price on shares of Nurix Therapeutics in a report on Wednesday, June 5th. Robert W. Baird boosted their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Needham & Company LLC dropped their target price on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday. Finally, HC Wainwright boosted their target price on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Nurix Therapeutics has an average rating of “Moderate Buy” and an average target price of $25.00.

Nurix Therapeutics Stock Performance

Shares of NRIX traded up $0.08 during midday trading on Friday, hitting $22.11. The company had a trading volume of 159,783 shares, compared to its average volume of 985,805. The company’s 50-day simple moving average is $17.10 and its 200-day simple moving average is $13.52. The firm has a market capitalization of $1.09 billion, a P/E ratio of -8.31 and a beta of 2.22. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $22.85.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.08). The company had revenue of $12.09 million during the quarter, compared to analysts’ expectations of $19.35 million. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. Equities analysts predict that Nurix Therapeutics will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now owns 19,838 shares of the company’s stock, valued at $412,828.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Houte Hans Van sold 3,499 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total value of $44,892.17. Following the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at $876,712.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.81, for a total value of $119,865.60. Following the completion of the sale, the insider now owns 19,838 shares in the company, valued at $412,828.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,549 shares of company stock valued at $271,888. Insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after acquiring an additional 3,424 shares in the last quarter. Opaleye Management Inc. purchased a new position in Nurix Therapeutics during the first quarter worth about $3,928,000. Ikarian Capital LLC purchased a new position in Nurix Therapeutics during the first quarter worth about $4,410,000. Jacobs Levy Equity Management Inc. lifted its position in Nurix Therapeutics by 73.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 434,413 shares of the company’s stock worth $6,386,000 after buying an additional 184,086 shares during the period. Finally, Caxton Associates LP purchased a new position in Nurix Therapeutics during the first quarter worth about $225,000.

Nurix Therapeutics Company Profile

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.