UBS Group Initiates Coverage on Nurix Therapeutics (NASDAQ:NRIX)

UBS Group began coverage on shares of Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $35.00 price target on the stock. UBS Group's target price points to a potential upside of 38.78% from the company's current price.

Other equities analysts have also issued reports about the stock. Robert W. Baird assumed coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They issued an "outperform" rating and a $26.00 price target for the company. Oppenheimer lifted their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. Jefferies Financial Group started coverage on Nurix Therapeutics in a research note on Friday, October 11th. They issued a "buy" rating and a $41.00 price target for the company. Royal Bank of Canada cut their price objective on shares of Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, October 14th. Finally, HC Wainwright upped their target price on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.40.

Nurix Therapeutics Stock Up 1.8 %

Nurix Therapeutics stock traded up $0.44 during trading hours on Thursday, hitting $25.22. The stock had a trading volume of 478,313 shares, compared to its average volume of 888,417. The stock's 50-day moving average price is $23.95 and its 200-day moving average price is $19.84. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $26.43. The stock has a market capitalization of $1.24 billion, a P/E ratio of -8.64 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.67). The business had revenue of $12.59 million for the quarter, compared to analysts' expectations of $13.85 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. On average, research analysts expect that Nurix Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Christine Ring sold 3,290 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $25.00, for a total transaction of $82,250.00. Following the sale, the insider now directly owns 24,592 shares in the company, valued at $614,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Christine Ring sold 3,290 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $25.00, for a total transaction of $82,250.00. Following the transaction, the insider now owns 24,592 shares of the company's stock, valued at approximately $614,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the sale, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,105 shares of company stock worth $1,507,181. Corporate insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Nurix Therapeutics by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company's stock valued at $54,000 after purchasing an additional 559 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Nurix Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company's stock worth $176,000 after buying an additional 998 shares during the period. ClariVest Asset Management LLC lifted its stake in shares of Nurix Therapeutics by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company's stock worth $1,318,000 after acquiring an additional 1,766 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Nurix Therapeutics by 3.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 50,838 shares of the company's stock valued at $747,000 after acquiring an additional 1,820 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Nurix Therapeutics by 299.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company's stock valued at $95,000 after acquiring an additional 3,424 shares during the period.

About Nurix Therapeutics

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.