Oppenheimer Boosts Nurix Therapeutics (NASDAQ:NRIX) Price Target to $30.00

Nurix Therapeutics (NASDAQ:NRIX) had its price objective increased by Oppenheimer from $27.00 to $30.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Needham & Company LLC reduced their target price on shares of Nurix Therapeutics from $31.00 to $29.00 and set a buy rating on the stock in a report on Friday, July 12th. Royal Bank of Canada increased their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an outperform rating in a report on Friday, July 12th. Barclays increased their target price on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the stock an overweight rating in a report on Monday, July 15th. Stifel Nicolaus reiterated a buy rating and set a $27.00 target price on shares of Nurix Therapeutics in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an overweight rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $27.00.

Nurix Therapeutics Trading Down 4.5 %

NRIX opened at $23.33 on Wednesday. The stock’s 50-day moving average price is $22.16 and its 200 day moving average price is $17.38. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $26.12. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -7.99 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The business had revenue of $12.09 million for the quarter, compared to analysts’ expectations of $19.35 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. On average, research analysts forecast that Nurix Therapeutics will post -2.95 earnings per share for the current year.

Insider Activity

In other news, insider Christine Ring sold 1,900 shares of Nurix Therapeutics stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $17.01, for a total value of $32,319.00. Following the sale, the insider now owns 19,838 shares of the company’s stock, valued at $337,444.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the sale, the chief financial officer now owns 54,479 shares of the company’s stock, valued at $1,126,080.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christine Ring sold 1,900 shares of the firm’s stock in a transaction dated 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 owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The disclosure for this sale can be found here. Insiders have sold a total of 61,715 shares of company stock valued at $1,449,070 over the last quarter. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NRIX. International Assets Investment Management LLC acquired a new stake in shares of Nurix Therapeutics in the fourth quarter valued at about $1,175,000. New York State Common Retirement Fund lifted its stake in shares of Nurix Therapeutics by 59.5% in the fourth quarter. New York State Common Retirement Fund now owns 16,156 shares of the company’s stock valued at $167,000 after purchasing an additional 6,025 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Nurix Therapeutics by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,297 shares of the company’s stock valued at $6,422,000 after purchasing an additional 53,721 shares during the period. Jump Financial LLC acquired a new stake in shares of Nurix Therapeutics in the fourth quarter valued at about $158,000. Finally, Massachusetts Financial Services Co. MA raised its position in Nurix Therapeutics by 248.2% during the fourth 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.

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.