Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $26.00 at Royal Bank of Canada

Nurix Therapeutics (NASDAQ:NRIX) had its target price hoisted by Royal Bank of Canada from $23.00 to $26.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also commented on NRIX. Robert W. Baird lifted their price target on Nurix Therapeutics from $24.00 to $25.00 and gave the company an outperform rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on Nurix Therapeutics from $30.00 to $31.00 and gave the stock an overweight rating in a research report on Monday, June 17th. Piper Sandler reissued an overweight rating and issued a $35.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. Stephens assumed coverage on Nurix Therapeutics in a research note on Tuesday, May 14th. They issued an overweight rating and a $20.00 price objective on the stock. Finally, HC Wainwright increased their target price on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the company a buy rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Nurix Therapeutics currently has a consensus rating of Moderate Buy and an average target price of $25.10.

Nurix Therapeutics Trading Up 1.4 %

NRIX stock opened at $20.74 on Thursday. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $22.44. The company has a 50 day simple moving average of $15.65 and a 200 day simple moving average of $12.74.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Wednesday, April 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The company had revenue of $16.59 million during the quarter, compared to the consensus estimate of $14.58 million. Research analysts forecast that Nurix Therapeutics will post -2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.01, for a total transaction of $27,147.96. Following the completion of the transaction, the insider now owns 19,838 shares of the company’s stock, valued at $337,444.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Christine Ring sold 1,596 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.01, for a total value of $27,147.96. Following the transaction, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 3,499 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total value of $44,892.17. Following the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at $876,712.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,789 shares of company stock worth $152,023. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NRIX. China Universal Asset Management Co. Ltd. lifted its stake in shares of Nurix Therapeutics by 351.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock worth $58,000 after purchasing an additional 4,367 shares during the period. Quest Partners LLC bought a new position in Nurix Therapeutics in the fourth quarter worth approximately $59,000. EntryPoint Capital LLC purchased a new position in shares of Nurix Therapeutics during the 1st quarter worth $123,000. Jump Financial LLC bought a new stake in Nurix Therapeutics during the fourth quarter valued at about $158,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Nurix Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock valued at $163,000 after acquiring an additional 4,012 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.