Nurix Therapeutics (NASDAQ:NRIX) Price Target Increased to $30.00 by Analysts at Oppenheimer

Nurix Therapeutics (NASDAQ:NRIX) had its price objective raised by Oppenheimer from $27.00 to $30.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on NRIX. JPMorgan Chase & Co. boosted their target price on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an overweight rating in a report on Monday, July 15th. Stifel Nicolaus restated a buy rating and issued a $27.00 target price on shares of Nurix Therapeutics in a report on Wednesday, May 15th. Stephens assumed coverage on shares of Nurix Therapeutics in a report on Tuesday, May 14th. They issued an overweight rating and a $20.00 target price for the company. Needham & Company LLC lowered their target price on shares of Nurix Therapeutics from $31.00 to $29.00 and set a buy rating for the company in a report on Friday, July 12th. Finally, Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an outperform rating in a report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Nurix Therapeutics has a consensus rating of Moderate Buy and a consensus target price of $27.00.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $23.33 on Wednesday. The company has a market cap of $1.15 billion, a PE ratio of -7.99 and a beta of 2.23. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $26.12. The company has a 50-day simple moving average of $22.16 and a 200-day simple moving average of $17.38.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The firm had revenue of $12.09 million for 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%. On average, analysts anticipate that Nurix Therapeutics will post -2.95 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at $781,870.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at $781,870.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christine Ring sold 1,900 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $17.01, for a total transaction of $32,319.00. Following the transaction, the insider now directly owns 19,838 shares in the company, valued at $337,444.38. The disclosure for this sale can be found here. Insiders sold a total of 61,715 shares of company stock worth $1,449,070 over the last ninety days. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NRIX. International Assets Investment Management LLC acquired a new position in shares of Nurix Therapeutics during the fourth quarter worth $1,175,000. New York State Common Retirement Fund raised its holdings in Nurix Therapeutics by 59.5% in the fourth quarter. New York State Common Retirement Fund now owns 16,156 shares of the company’s stock valued at $167,000 after acquiring an additional 6,025 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nurix Therapeutics by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,297 shares of the company’s stock valued at $6,422,000 after acquiring an additional 53,721 shares in the last quarter. Jump Financial LLC acquired a new stake in Nurix Therapeutics in the fourth quarter valued at $158,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Nurix Therapeutics by 248.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 142,146 shares of the company’s stock valued at $1,467,000 after acquiring an additional 101,320 shares in 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.