Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $29.50 Consensus Price Target from Analysts

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $29.50.

NRIX has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Piper Sandler raised their price target on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Wells Fargo & Company dropped their price objective on shares of Nurix Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. Finally, HC Wainwright boosted their target price on Nurix Therapeutics from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, January 29th.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 4,895 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $81,257.00. Following the transaction, the insider directly owned 83,672 shares of the company’s stock, valued at $1,388,955.20. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $60,772.60. Following the completion of the transaction, the chief financial officer owned 45,427 shares in the company, valued at approximately $754,088.20. This represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC increased its position in shares of Nurix Therapeutics by 339.0% during the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after acquiring an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new position in Nurix Therapeutics during the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd bought a new stake in Nurix Therapeutics during the 4th quarter worth approximately $33,000. Wexford Capital LP purchased a new stake in shares of Nurix Therapeutics in the third quarter worth approximately $41,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Nurix Therapeutics by 118.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after purchasing an additional 3,475 shares in the last quarter.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $15.79 on Friday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -5.19 and a beta of 1.96. The business’s 50-day moving average is $17.98 and its 200-day moving average is $13.80. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Wednesday, January 28th. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.02. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%.The business had revenue of $13.58 million during the quarter, compared to analysts’ expectations of $13.41 million. Analysts anticipate that Nurix Therapeutics will post -2.99 EPS for the current year.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.