Wells Fargo & Company Issues Pessimistic Forecast for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price target decreased by investment analysts at Wells Fargo & Company from $32.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 153.81% from the company's previous close.

NRIX has been the subject of several other reports. JPMorgan Chase & Co. dropped 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. Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Morgan Stanley increased their price target on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Stifel Nicolaus reduced their target price on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, BTIG Research assumed coverage on Nurix Therapeutics in a report on Tuesday, December 10th. They issued a "buy" rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.44.

Nurix Therapeutics Stock Performance

NRIX stock traded up $0.71 on Wednesday, reaching $9.85. The company had a trading volume of 998,502 shares, compared to its average volume of 898,076. The company's fifty day moving average is $14.03 and its 200 day moving average is $19.16. The company has a market cap of $750.92 million, a P/E ratio of -3.41 and a beta of 2.23. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, topping analysts' consensus estimates of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The firm had revenue of $18.45 million during the quarter, compared to analysts' expectations of $12.78 million. During the same quarter last year, the business posted ($0.76) EPS. On average, sell-side analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,690 shares of the 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 $73,246.50. Following the completion of the sale, the insider now directly owns 55,937 shares of the company's stock, valued at $1,110,349.45. This represents a 6.19 % 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 link. Also, CFO Houte Hans Van sold 2,811 shares of the business'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 transaction of $55,798.35. Following the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at $785,047.65. The trade was a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,326 shares of company stock valued at $213,449 in the last three months. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Nurix Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NRIX. US Bancorp DE grew its stake in Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock valued at $27,000 after purchasing an additional 842 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics in the fourth quarter worth approximately $28,000. Aquatic Capital Management LLC bought a new position in Nurix Therapeutics during the fourth quarter valued at approximately $87,000. Summit Investment Advisors Inc. raised its position in Nurix Therapeutics by 13.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock valued at $138,000 after acquiring an additional 877 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $164,000.

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.