Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $45.00 at Jefferies Financial Group

Nurix Therapeutics (NASDAQ:NRIX) had its price target upped by equities researchers at Jefferies Financial Group from $41.00 to $45.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 189.20% from the stock’s previous close.

Several other research analysts also recently commented on NRIX. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of Nurix Therapeutics in a report on Monday, May 18th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Nurix Therapeutics in a report on Monday, April 27th. Needham & Company LLC boosted their target price on shares of Nurix Therapeutics from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Tuesday, April 21st. Finally, Wells Fargo & Company dropped their price target on shares of Nurix Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.86.

Nurix Therapeutics Stock Performance

Shares of NRIX stock traded up $0.92 on Monday, reaching $15.56. 17,398,159 shares of the company’s stock traded hands, compared to its average volume of 1,276,667. Nurix Therapeutics has a 12-month low of $8.19 and a 12-month high of $22.50. The company has a market capitalization of $1.61 billion, a P/E ratio of -4.93 and a beta of 1.86. The business’s 50 day moving average price is $16.33 and its two-hundred day moving average price is $16.88.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The company had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $14.25 million. Research analysts predict that Nurix Therapeutics will post -2.94 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,214 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $16.65, for a total transaction of $53,513.10. Following the completion of the transaction, the insider directly owned 120,399 shares in the company, valued at $2,004,643.35. This represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the transaction, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at $624,027.20. This trade represents a 27.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 19,657 shares of company stock worth $326,586. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Nurix Therapeutics by 32.5% in the 4th quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after acquiring an additional 1,460,736 shares during the period. General Atlantic L.P. acquired a new position in shares of Nurix Therapeutics in the fourth quarter valued at $92,899,000. Morgan Stanley raised its position in shares of Nurix Therapeutics by 115.9% in the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after purchasing an additional 2,620,323 shares during the period. Vestal Point Capital LP lifted its stake in shares of Nurix Therapeutics by 35.0% during the 4th quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock worth $88,969,000 after buying an additional 1,215,000 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its holdings in shares of Nurix Therapeutics by 20.0% during the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock worth $88,373,000 after buying an additional 776,431 shares during the period.

Key Headlines Impacting Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Nurix and Roche signed a global collaboration to co-develop and co-commercialize bexobrutideg, validating Nurix’s drug platform and expanding the asset’s reach across blood cancers, immunology, and neurology. Article Title
• Positive Sentiment: The agreement provides Nurix with $700 million upfront and up to $2.3 billion in total potential payments, a significant non-dilutive funding boost that could support further pipeline development. Article Title
• Positive Sentiment: Roche’s involvement and expanded clinical plans for chronic lymphocytic leukemia, multiple sclerosis, and chronic spontaneous urticaria suggest broader commercial potential for bexobrutideg than investors previously modeled. Article Title
• Positive Sentiment: Needham raised its price target on Nurix to $34 from $26 and kept a buy rating, reflecting improved confidence after the Roche deal. Article Title

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.