Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $26.67 Average Target Price from Analysts

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $26.69.

A number of analysts have issued reports on NRIX shares. Barclays raised their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. HC Wainwright boosted their price objective on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus reiterated a “buy” rating and set a $27.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, May 15th. Truist Financial started coverage on shares of Nurix Therapeutics in a research report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Needham & Company LLC dropped their price target on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, July 12th.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,477 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.45, for a total value of $74,581.65. Following the sale, the chief financial officer now owns 51,002 shares of the company’s stock, valued at approximately $1,093,992.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Christine Ring sold 1,900 shares of Nurix Therapeutics stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $17.01, for a total transaction of $32,319.00. Following the completion of the sale, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 3,477 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.45, for a total transaction of $74,581.65. Following the completion of the transaction, the chief financial officer now owns 51,002 shares of the company’s stock, valued at $1,093,992.90. The disclosure for this sale can be found here. Insiders sold a total of 24,791 shares of company stock worth $506,063 over the last ninety days. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in Nurix Therapeutics by 248.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 142,146 shares of the company’s stock worth $1,467,000 after acquiring an additional 101,320 shares during the last quarter. Affinity Asset Advisors LLC grew its position in shares of Nurix Therapeutics by 176.0% in the 4th quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock worth $7,122,000 after buying an additional 440,112 shares during the period. Trexquant Investment LP increased its stake in shares of Nurix Therapeutics by 80.9% in the 4th quarter. Trexquant Investment LP now owns 159,318 shares of the company’s stock worth $1,644,000 after acquiring an additional 71,252 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Nurix Therapeutics by 576.7% in the 1st quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock worth $2,355,000 after acquiring an additional 136,606 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Nurix Therapeutics by 365.0% during the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock valued at $2,154,000 after acquiring an additional 81,005 shares during the period.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX opened at $23.86 on Wednesday. The company has a market capitalization of $1.17 billion, a P/E ratio of -8.17 and a beta of 2.22. The company’s 50-day moving average is $20.71 and its 200 day moving average is $16.08. Nurix Therapeutics has a fifty-two week low of $4.22 and a fifty-two week high of $24.38.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The company had revenue of $12.09 million during the quarter, compared to analysts’ expectations of $19.35 million. As a group, research analysts predict that Nurix Therapeutics will post -2.86 earnings per share for the current year.

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.