HC Wainwright Issues Positive Forecast for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Nurix Therapeutics (NASDAQ:NRIX) had its price objective raised by HC Wainwright from $35.00 to $36.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on NRIX. BTIG Research started coverage on Nurix Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada cut their target price on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. BMO Capital Markets initiated coverage on 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 reaffirmed an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Finally, UBS Group began coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $30.71.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX opened at $19.65 on Wednesday. Nurix Therapeutics has a one year low of $7.79 and a one year high of $29.56. The company’s fifty day moving average is $20.20 and its two-hundred day moving average is $22.42.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. On average, equities analysts predict that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,546 shares of Nurix Therapeutics stock in a transaction on Friday, November 1st. The stock was sold at an average price of $24.28, for a total transaction 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 approximately $818,818.72. This trade represents a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank increased its stake in shares of Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after buying an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after buying an additional 559 shares in the last quarter. Quest Partners LLC increased its stake 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 buying an additional 1,312 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Nurix Therapeutics by 8.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company’s stock worth $675,000 after purchasing an additional 2,329 shares during the period. Finally, Quarry LP increased its position in Nurix Therapeutics by 3,746.2% in 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.

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.