Nurix Therapeutics (NASDAQ:NRIX) Price Target Cut to $26.00

Nurix Therapeutics (NASDAQ:NRIX) had its price target decreased by Royal Bank of Canada from $27.00 to $26.00 in a report released on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price 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. Truist Financial started coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 target price on the stock. Oppenheimer lifted their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Stephens reaffirmed an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a report on Monday. Finally, Jefferies Financial Group started coverage on shares of Nurix Therapeutics in a report on Friday, October 11th. They issued a “buy” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

Nurix Therapeutics Stock Performance

Shares of Nurix Therapeutics stock opened at $24.72 on Monday. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $26.43. The company has a market capitalization of $1.22 billion, a P/E ratio of -8.47 and a beta of 2.22. The company’s fifty day moving average is $23.64 and its two-hundred day moving average is $19.50.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The company had revenue of $12.59 million for the quarter, compared to the consensus estimate of $13.85 million. As a group, equities analysts expect that Nurix Therapeutics will post -2.95 earnings per share for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of Nurix Therapeutics stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the transaction, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Christine Ring sold 9,870 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.01, for a total value of $246,848.70. Following the completion of the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $615,045.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the transaction, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at approximately $781,870.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,105 shares of company stock valued at $1,507,181. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Nurix Therapeutics by 576.7% in the first quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock valued at $2,355,000 after buying an additional 136,606 shares during the last quarter. SG Americas Securities LLC increased its position in Nurix Therapeutics by 365.0% during the second quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock worth $2,154,000 after purchasing an additional 81,005 shares during the last quarter. Renaissance Technologies LLC increased its position in Nurix Therapeutics by 80.7% during the second quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after purchasing an additional 144,700 shares during the last quarter. TD Asset Management Inc acquired a new position in Nurix Therapeutics during the second quarter worth approximately $593,000. Finally, Candriam S.C.A. increased its position in Nurix Therapeutics by 30.5% during the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after purchasing an additional 272,136 shares during the last quarter.

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.