Robert W. Baird Initiates Coverage on Nurix Therapeutics (NASDAQ:NRIX)

Robert W. Baird assumed coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report sent to investors on Friday, StockNewsAPI reports. The brokerage issued an outperform rating and a $26.00 price target on the stock.

A number of other research analysts have also weighed in on the company. Barclays raised their price objective on Nurix Therapeutics from $20.00 to $31.00 and gave the company an overweight rating in a research report on Monday, July 15th. Stephens assumed coverage on Nurix Therapeutics in a research report on Tuesday, May 14th. They issued an overweight rating and a $20.00 price target for the company. Truist Financial began coverage on shares of Nurix Therapeutics in a research report on Wednesday, July 31st. They set a buy rating and a $36.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an outperform rating in a report on Friday, July 12th. Finally, HC Wainwright increased their price target on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the company a buy rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Nurix Therapeutics currently has an average rating of Moderate Buy and a consensus price target of $27.00.

Nurix Therapeutics Stock Up 0.5 %

NASDAQ:NRIX opened at $23.44 on Friday. Nurix Therapeutics has a 52 week low of $4.22 and a 52 week high of $26.12. The firm has a market capitalization of $1.15 billion, a P/E ratio of -8.03 and a beta of 2.23. The company has a fifty day moving average of $22.21 and a 200 day moving average of $17.57.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.08). The company had revenue of $12.09 million during the quarter, compared to analysts’ expectations of $19.35 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. As a group, analysts anticipate that Nurix Therapeutics will post -2.95 EPS for the current year.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.22, for a total value of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at approximately $781,870.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Nurix Therapeutics news, insider Christine Ring sold 9,870 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.01, for a total value of $246,848.70. Following the completion of the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $615,045.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 20,000 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,715 shares of company stock worth $1,449,070. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in shares of Nurix Therapeutics during the 4th quarter valued at about $1,175,000. New York State Common Retirement Fund boosted its stake in Nurix Therapeutics by 59.5% during the fourth quarter. New York State Common Retirement Fund now owns 16,156 shares of the company’s stock valued at $167,000 after buying an additional 6,025 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Nurix Therapeutics by 9.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,297 shares of the company’s stock valued at $6,422,000 after buying an additional 53,721 shares in the last quarter. Jump Financial LLC bought a new stake in Nurix Therapeutics in the 4th quarter worth approximately $158,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Nurix Therapeutics by 248.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 142,146 shares of the company’s stock worth $1,467,000 after acquiring an additional 101,320 shares during the last quarter.

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.