Nurix Therapeutics (NASDAQ:NRIX) Coverage Initiated at Jefferies Financial Group

Research analysts at Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $41.00 price target on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 73.51% from the stock’s current price.

NRIX has been the topic of several other reports. Needham & Company LLC decreased their price target on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Oppenheimer lifted their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Barclays increased their price target on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. upped their target price on Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Truist Financial started coverage on Nurix Therapeutics in a research note on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price target on the stock. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Nurix Therapeutics Stock Performance

NRIX stock opened at $23.63 on Friday. The stock’s 50 day moving average price is $23.27 and its 200 day moving average price is $19.24. The firm has a market cap of $1.52 billion, a P/E ratio of -8.09 and a beta of 2.22. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $26.31.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The company had revenue of $12.09 million for the quarter, compared to analyst estimates of $19.35 million. On average, research analysts predict that Nurix Therapeutics will post -2.95 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other news, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.43, for a total value of $123,436.80. Following the completion of the sale, the insider now owns 24,592 shares of the company’s stock, valued at $527,006.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.43, for a total value of $123,436.80. Following the transaction, the insider now owns 24,592 shares in the company, valued at $527,006.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Houte Hans Van sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the sale, the chief financial officer now owns 54,479 shares of the company’s stock, valued at $1,126,080.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 59,815 shares of company stock worth $1,424,931. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after buying an additional 3,424 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Nurix Therapeutics in the 1st quarter worth about $123,000. China Universal Asset Management Co. Ltd. increased its position in shares of Nurix Therapeutics by 67.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock worth $138,000 after purchasing an additional 3,793 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Nurix Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock valued at $176,000 after purchasing an additional 998 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of Nurix Therapeutics during the second quarter worth about $201,000.

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.