Brokerages Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Target Price at $30.35

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has received an average recommendation of "Moderate Buy" from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $30.35.

Several equities analysts have recently issued reports on NRIX shares. Jefferies Financial Group initiated coverage on Nurix Therapeutics in a research report on Friday, October 11th. They set a "buy" rating and a $41.00 price objective for the company. BTIG Research assumed coverage on Nurix Therapeutics in a research note on Tuesday, December 10th. They issued a "buy" rating and a $35.00 price target for the company. Stephens restated an "overweight" rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. Finally, Oppenheimer boosted their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th.

Nurix Therapeutics Trading Up 1.8 %

NRIX traded up $0.37 on Tuesday, hitting $21.18. 676,460 shares of the company's stock were exchanged, compared to its average volume of 901,808. The firm has a market cap of $1.50 billion, a PE ratio of -7.28 and a beta of 2.11. The stock has a fifty day moving average of $23.61 and a two-hundred day moving average of $22.29. Nurix Therapeutics has a twelve month low of $7.65 and a twelve month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The firm had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. On average, analysts predict that Nurix Therapeutics will post -2.81 EPS for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total transaction of $128,044.80. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at $546,680.16. This trade represents a 18.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 2,368 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total value of $57,542.40. Following the sale, the chief financial officer now owns 37,270 shares of the company's stock, valued at approximately $905,661. This trade represents a 5.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,401 shares of company stock worth $437,453. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in NRIX. Bank of New York Mellon Corp raised its holdings in Nurix Therapeutics by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company's stock worth $4,365,000 after acquiring an additional 49,918 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Nurix Therapeutics by 762.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,207 shares of the company's stock valued at $317,000 after buying an additional 13,444 shares during the last quarter. RAM Investment Partners LLC bought a new position in Nurix Therapeutics in the 2nd quarter worth approximately $361,000. Rhumbline Advisers lifted its holdings in shares of Nurix Therapeutics by 14.2% during the second quarter. Rhumbline Advisers now owns 88,781 shares of the company's stock worth $1,853,000 after buying an additional 11,010 shares during the last quarter. Finally, TD Asset Management Inc bought a new stake in shares of Nurix Therapeutics in the second quarter valued at approximately $593,000.

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.