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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are covering the company, MarketBeat.com reports. One investment 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 brokerages that have issued a report on the stock in the last year is $31.12.

NRIX has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. BTIG Research started coverage on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada boosted their price target on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Stephens reissued an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Finally, BMO Capital Markets began coverage on Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective on the stock.

Nurix Therapeutics Trading Down 4.9 %

Shares of NASDAQ:NRIX opened at $17.12 on Wednesday. The company has a 50-day moving average price of $19.71 and a 200-day moving average price of $22.25. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -5.92 and a beta of 2.14. Nurix Therapeutics has a 12 month low of $8.37 and a 12 month high of $29.56.

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

Insider Activity

In related news, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction that occurred 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 directly owns 39,549 shares of the company’s stock, valued at approximately $785,047.65. This represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 directly owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in shares of Nurix Therapeutics in the second quarter worth approximately $601,000. AQR Capital Management LLC boosted its holdings in Nurix Therapeutics by 76.8% in the second quarter. AQR Capital Management LLC now owns 21,296 shares of the company’s stock worth $444,000 after purchasing an additional 9,254 shares during the last quarter. Millennium Management LLC grew its position in Nurix Therapeutics by 60.2% in the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after purchasing an additional 225,374 shares during the period. The Manufacturers Life Insurance Company raised its stake in Nurix Therapeutics by 25.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,942 shares of the company’s stock valued at $479,000 after buying an additional 4,583 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Nurix Therapeutics during the 3rd quarter valued at $3,152,000.

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.