Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $34.21 Consensus Target Price from Analysts

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned an average rating of “Moderate Buy” from the fifteen research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $34.2143.

Several equities analysts have commented on NRIX shares. Royal Bank Of Canada boosted their price target on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Morgan Stanley lifted their target price on Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Jefferies Financial Group lifted their target price on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, June 8th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Friday, July 17th.

Insider Activity

In other news, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the completion of the transaction, the insider directly owned 115,005 shares of the company’s stock, valued at approximately $2,300,100. This represents a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total value of $115,977.96. Following the completion of the transaction, the chief financial officer owned 40,166 shares in the company, valued at approximately $978,443.76. The trade was a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 26,766 shares of company stock valued at $626,343. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds have recently added to or reduced their stakes in NRIX. BlackRock Inc. acquired a new position in shares of Nurix Therapeutics in the 2nd quarter valued at $212,769,000. General Atlantic L.P. purchased a new stake in Nurix Therapeutics in the fourth quarter valued at $92,899,000. Morgan Stanley boosted its stake in 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 acquiring an additional 2,620,323 shares in the last quarter. Rubric Capital Management LP acquired a new position in Nurix Therapeutics in the fourth quarter valued at $46,930,000. Finally, Braidwell LP purchased a new position in shares of Nurix Therapeutics during the fourth quarter worth about $41,428,000.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $26.14 on Thursday. The firm has a market capitalization of $2.71 billion, a PE ratio of -7.58 and a beta of 1.80. Nurix Therapeutics has a 1 year low of $8.19 and a 1 year high of $28.23. The firm’s 50-day moving average is $24.91 and its two-hundred day moving average is $19.33.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The business had revenue of $9.04 million during the quarter, compared to analysts’ expectations of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. Analysts expect that Nurix Therapeutics will post -2.73 EPS for the current fiscal year.

About Nurix Therapeutics

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.