Nurix Therapeutics (NASDAQ:NRIX) Price Target Cut to $35.00 by Analysts at Stifel Nicolaus

Nurix Therapeutics (NASDAQ:NRIX) had its price target cut by research analysts at Stifel Nicolaus from $36.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 297.28% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Morgan Stanley increased their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Leerink Partners began coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They issued a “market perform” rating and a $16.00 price objective for the company. Leerink Partnrs upgraded Nurix Therapeutics to a “hold” rating in a research report on Monday, March 17th. Finally, Royal Bank of Canada lifted their target price on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.44.

Nurix Therapeutics Trading Down 8.2 %

NASDAQ NRIX opened at $8.81 on Wednesday. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56. The company has a 50 day moving average of $14.22 and a 200-day moving average of $19.28. The firm has a market cap of $671.64 million, a price-to-earnings ratio of -3.05 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.05. The firm had revenue of $18.45 million during the quarter, compared to analysts’ expectations of $12.78 million. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. During the same period last year, the firm posted ($0.76) EPS. On average, analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,811 shares of Nurix Therapeutics stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $55,798.35. Following the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at approximately $785,047.65. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares of the company’s stock, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,326 shares of company stock valued at $213,449 over the last three months. 9.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in shares of Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after buying an additional 842 shares during the period. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics in the 4th quarter worth $28,000. Aquatic Capital Management LLC bought a new position in Nurix Therapeutics during the 4th quarter worth about $87,000. Summit Investment Advisors Inc. raised its stake in shares of Nurix Therapeutics by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after purchasing an additional 877 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Nurix Therapeutics in the fourth quarter valued at about $164,000.

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.