Nurix Therapeutics (NASDAQ:NRIX) Given New $36.00 Price Target at Stifel Nicolaus

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its target price raised by equities researchers at Stifel Nicolaus from $34.00 to $36.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 82.65% from the company's previous close.

A number of other research analysts have also weighed in on NRIX. Needham & Company LLC reissued a "buy" rating and set a $29.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. BMO Capital Markets initiated coverage on Nurix Therapeutics in a research report on Friday, December 6th. They set an "outperform" rating and a $35.00 price objective for the company. BTIG Research initiated coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They set a "buy" rating and a $35.00 target price for the company. UBS Group started coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $35.00 price target for the company. Finally, HC Wainwright boosted their price objective on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Nurix Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX traded down $0.30 during mid-day trading on Wednesday, reaching $19.71. 775,381 shares of the company traded hands, compared to its average volume of 594,254. The company's fifty day moving average is $20.05 and its two-hundred day moving average is $22.37. Nurix Therapeutics has a fifty-two week low of $7.79 and a fifty-two week high of $29.56. The stock has a market cap of $1.50 billion, a PE ratio of -6.82 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly 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%. Research analysts forecast that Nurix Therapeutics will post -2.73 earnings per share for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,811 shares of the business's 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 transaction, the chief financial officer now owns 39,549 shares of the company's stock, valued at approximately $785,047.65. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new stake in shares of Nurix Therapeutics during the second quarter valued at approximately $601,000. AQR Capital Management LLC boosted its position in Nurix Therapeutics by 76.8% in the 2nd quarter. AQR Capital Management LLC now owns 21,296 shares of the company's stock valued at $444,000 after buying an additional 9,254 shares during the last quarter. Millennium Management LLC increased its stake in shares of Nurix Therapeutics by 60.2% in 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. The Manufacturers Life Insurance Company raised its position in shares of Nurix Therapeutics by 25.0% during the second quarter. The Manufacturers Life Insurance Company now owns 22,942 shares of the company's stock worth $479,000 after acquiring an additional 4,583 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Nurix Therapeutics during the second quarter valued at $578,000.

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.