Nurix Therapeutics (NASDAQ:NRIX) Given New $36.00 Price Target at Stifel Nicolaus

Nurix Therapeutics (NASDAQ:NRIX) had its price target raised by research analysts at Stifel Nicolaus from $34.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 84.05% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada reduced their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. BMO Capital Markets initiated coverage on shares of Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price target on the stock. Stephens reissued an “overweight” rating and set a $31.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Jefferies Financial Group began coverage on Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, HC Wainwright increased their price target on Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Nurix Therapeutics Price Performance

Shares of Nurix Therapeutics stock opened at $19.56 on Wednesday. Nurix Therapeutics has a 1-year low of $7.65 and a 1-year high of $29.56. The stock has a market cap of $1.39 billion, a P/E ratio of -6.72 and a beta of 2.14. The stock’s 50 day simple moving average is $20.20 and its 200-day simple moving average is $22.42.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) 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, research analysts expect that Nurix Therapeutics will post -2.81 EPS for the current fiscal year.

Insider Activity

In related news, CFO Houte Hans Van sold 3,546 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at $818,818.72. This represents a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NRIX. JPMorgan Chase & Co. boosted its stake in Nurix Therapeutics by 85.2% in the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock valued at $1,531,000 after acquiring an additional 31,352 shares in the last quarter. Barclays PLC grew its stake in Nurix Therapeutics by 77.9% during the 3rd quarter. Barclays PLC now owns 128,344 shares of the company’s stock worth $2,884,000 after buying an additional 56,190 shares during the last quarter. FMR LLC increased its position in Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after buying an additional 511,256 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Nurix Therapeutics in the third quarter valued at approximately $530,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Nurix Therapeutics by 52.4% in the third quarter. Franklin Resources Inc. now owns 123,101 shares of the company’s stock valued at $2,766,000 after acquiring an additional 42,315 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.