Analysts Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Target Price at $26.67

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.6667.

NRIX has been the subject of several recent research reports. Mizuho initiated coverage on Nurix Therapeutics in a report on Tuesday, October 21st. They set an “outperform” rating and a $24.00 price target for the company. BTIG Research reiterated a “buy” rating and set a $27.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, November 4th. Wall Street Zen cut shares of Nurix Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of Nurix Therapeutics in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Wednesday, October 8th.

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 4,087 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $12.80, for a total value of $52,313.60. Following the transaction, the insider directly owned 76,751 shares in the company, valued at $982,412.80. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Houte Hans Van sold 6,284 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $12.56, for a total value of $78,927.04. Following the sale, the chief financial officer owned 37,592 shares of the company’s stock, valued at $472,155.52. This represents a 14.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,501 shares of company stock valued at $171,305 in the last quarter. 7.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in Nurix Therapeutics by 118.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after buying an additional 3,475 shares in the last quarter. Velan Capital Investment Management LP bought a new position in shares of Nurix Therapeutics during the second quarter worth $114,000. E Fund Management Co. Ltd. purchased a new position in Nurix Therapeutics during the first quarter valued at $122,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Nurix Therapeutics in the 2nd quarter valued at $141,000. Finally, Sei Investments Co. purchased a new stake in Nurix Therapeutics in the 2nd quarter worth $158,000.

Nurix Therapeutics Trading Up 5.0%

Shares of NRIX stock opened at $12.86 on Friday. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $28.20. The stock has a market cap of $988.68 million, a P/E ratio of -4.33 and a beta of 2.30. The company has a 50 day simple moving average of $10.15 and a two-hundred day simple moving average of $10.72.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Thursday, October 9th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The business had revenue of $7.89 million for the quarter, compared to the consensus estimate of $16.06 million. Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. As a group, equities analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

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.