Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $36.00 at HC Wainwright

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price objective raised by HC Wainwright from $35.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price suggests a potential upside of 82.65% from the company's previous close. HC Wainwright also issued estimates for Nurix Therapeutics' Q1 2025 earnings at ($0.72) EPS, Q2 2025 earnings at ($0.74) EPS, Q3 2025 earnings at ($0.76) EPS, Q4 2025 earnings at ($0.78) EPS and FY2025 earnings at ($3.00) EPS.

NRIX has been the subject of several other research reports. BMO Capital Markets began coverage on shares of Nurix Therapeutics in a report on Friday, December 6th. They issued an "outperform" rating and a $35.00 price objective for the company. UBS Group began coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $35.00 price objective for the company. Jefferies Financial Group began coverage on Nurix Therapeutics in a report on Friday, October 11th. They set a "buy" rating and a $41.00 target price on the stock. Needham & Company LLC cut their target price on Nurix Therapeutics from $29.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada lowered their price target on Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, Nurix Therapeutics has an average rating of "Moderate Buy" and an average target price of $30.71.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX traded down $0.30 during trading hours on Wednesday, hitting $19.71. The stock had a trading volume of 775,381 shares, compared to its average volume of 594,254. The stock's fifty day simple moving average is $20.05 and its 200 day simple moving average is $22.37. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -6.82 and a beta of 2.14. Nurix Therapeutics has a 1-year low of $7.79 and a 1-year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 63.38%. As a group, research analysts anticipate that Nurix Therapeutics will post -2.73 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 2,811 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the completion of the transaction, the chief financial officer now owns 39,549 shares of the company's stock, valued at approximately $785,047.65. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the transaction, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Nurix Therapeutics by 8.8% in the third quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company's stock worth $78,243,000 after purchasing an additional 280,240 shares in the last quarter. Geode Capital Management LLC lifted its position in Nurix Therapeutics by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company's stock worth $32,544,000 after buying an additional 126,306 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Nurix Therapeutics by 42.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company's stock valued at $14,869,000 after buying an additional 235,971 shares during the period. Millennium Management LLC boosted its stake in shares of Nurix Therapeutics by 60.2% during the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company's stock valued at $12,514,000 after buying an additional 225,374 shares during the period. Finally, FMR LLC grew its holdings in shares of Nurix Therapeutics by 675.9% during the 3rd quarter. FMR LLC now owns 586,902 shares of the company's stock valued at $13,188,000 after acquiring an additional 511,256 shares in 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.