Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $36.00 at HC Wainwright

Nurix Therapeutics (NASDAQ:NRIX) had its price target boosted by equities researchers at HC Wainwright from $35.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 79.91% from the company’s previous close.

NRIX has been the subject of a number of other research reports. Needham & Company LLC lowered their target price on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. UBS Group started coverage on Nurix Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reduced their target price on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus upped their price target on Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 price objective on the stock. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.71.

Nurix Therapeutics Price Performance

NRIX opened at $20.01 on Wednesday. The stock has a market capitalization of $1.42 billion, a P/E ratio of -6.88 and a beta of 2.14. The company’s 50 day simple moving average is $20.14 and its 200-day simple moving average is $22.40. Nurix Therapeutics has a one year low of $7.79 and a one year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. As a group, analysts anticipate that Nurix Therapeutics will post -2.81 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In related news, 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 transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $55,798.35. Following the sale, the chief financial officer now directly owns 39,549 shares in the company, valued at $785,047.65. This trade represents a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of NRIX. Amalgamated Bank boosted its stake in shares of Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after acquiring an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Nurix Therapeutics by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after purchasing an additional 559 shares during the last quarter. Quarry LP boosted its position in Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after purchasing an additional 2,435 shares during the period. International Assets Investment Management LLC boosted its position in Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after purchasing an additional 4,119 shares during the period. Finally, Quest Partners LLC raised its position in shares of Nurix Therapeutics by 21.3% in the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after purchasing an additional 1,312 shares during the period.

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.