Nurix Therapeutics (NASDAQ:NRIX) Given New $35.00 Price Target at Stifel Nicolaus

Nurix Therapeutics (NASDAQ:NRIX) had its price objective trimmed by Stifel Nicolaus from $36.00 to $35.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Leerink Partners assumed coverage on shares of Nurix Therapeutics in a research note on Monday, March 17th. They set a “market perform” rating and a $16.00 price target for the company. JPMorgan Chase & Co. decreased their price target 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 lifted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Leerink Partnrs raised shares of Nurix Therapeutics to a “hold” rating in a research report on Monday, March 17th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.44.

Nurix Therapeutics Stock Performance

Shares of Nurix Therapeutics stock traded down $0.86 on Wednesday, reaching $8.74. 896,636 shares of the stock were exchanged, compared to its average volume of 918,417. The firm’s 50 day moving average is $14.42 and its 200-day moving average is $19.39. The firm has a market cap of $666.30 million, a PE ratio of -3.03 and a beta of 2.23. Nurix Therapeutics has a one year low of $8.19 and a one year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company earned ($0.76) earnings per share. On average, equities research analysts expect that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,811 shares of the 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 completion of the sale, the chief financial officer now directly owns 39,549 shares of the company’s stock, valued at $785,047.65. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics 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 transaction, the insider now directly owns 55,937 shares in the company, 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. In the last quarter, insiders have sold 12,326 shares of company stock valued at $213,449. 9.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in 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 purchasing an additional 31,352 shares during the last quarter. Barclays PLC raised its position in 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. Sumitomo Mitsui Trust Group Inc. boosted its stake in Nurix Therapeutics by 42.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company’s stock valued at $14,869,000 after acquiring an additional 235,971 shares during the last quarter. FMR LLC increased its stake in shares of Nurix Therapeutics by 675.9% during the 3rd quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after purchasing an additional 511,256 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Nurix Therapeutics in the fourth quarter valued at $1,026,000.

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.