Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $31.12 Consensus Price Target from Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seventeen brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.12.

A number of research firms have recently commented on NRIX. Stephens restated an "overweight" rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Stifel Nicolaus raised their target price on Nurix Therapeutics from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Needham & Company LLC lowered their target price on Nurix Therapeutics from $29.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, BMO Capital Markets began coverage on Nurix Therapeutics in a research note on Friday, December 6th. They issued an "outperform" rating and a $35.00 target price for the company.

Insiders Place Their Bets

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

Institutional Trading of Nurix Therapeutics

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Nurix Therapeutics by 85.2% in the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company's stock worth $1,531,000 after acquiring an additional 31,352 shares during the period. Barclays PLC grew its holdings in shares of Nurix Therapeutics by 77.9% in the third quarter. Barclays PLC now owns 128,344 shares of the company's stock worth $2,884,000 after acquiring an additional 56,190 shares during the period. FMR LLC grew its holdings in shares of Nurix Therapeutics by 675.9% in the third quarter. FMR LLC now owns 586,902 shares of the company's stock worth $13,188,000 after acquiring an additional 511,256 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nurix Therapeutics in the third quarter worth $530,000. Finally, Franklin Resources Inc. grew its holdings in shares of Nurix Therapeutics by 52.4% in the third quarter. Franklin Resources Inc. now owns 123,101 shares of the company's stock worth $2,766,000 after acquiring an additional 42,315 shares during the period.

Nurix Therapeutics Trading Down 0.8 %

Shares of NRIX stock traded down $0.16 during trading hours on Wednesday, reaching $18.88. The company's stock had a trading volume of 830,987 shares, compared to its average volume of 662,863. The stock has a market capitalization of $1.43 billion, a P/E ratio of -6.53 and a beta of 2.14. Nurix Therapeutics has a one year low of $8.11 and a one year high of $29.56. The firm's fifty day simple moving average is $19.78 and its 200 day simple moving average is $22.27.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. As a group, equities research analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

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.