Stifel Nicolaus Raises Nurix Therapeutics (NASDAQ:NRIX) Price Target to $36.00

Nurix Therapeutics (NASDAQ:NRIX) had its price target increased by equities researchers at Stifel Nicolaus from $34.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 79.91% from the stock’s current price.

A number of other brokerages also recently weighed in on NRIX. BMO Capital Markets began 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. Jefferies Financial Group started coverage on Nurix Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $41.00 target price on the stock. UBS Group initiated coverage on Nurix Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $35.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, December 10th. Finally, Royal Bank of Canada cut their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.71.

Nurix Therapeutics Trading Up 1.8 %

NASDAQ NRIX opened at $20.01 on Wednesday. Nurix Therapeutics has a 12 month low of $7.79 and a 12 month high of $29.56. The stock has a 50 day moving average of $20.14 and a 200-day moving average of $22.40. The company has a market cap of $1.42 billion, a PE ratio of -6.88 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts predict that Nurix Therapeutics will post -2.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 3,690 shares of the business’s 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 transaction, the insider now owns 55,937 shares of the company’s stock, valued at $1,110,349.45. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 2,811 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 transaction of $55,798.35. Following the sale, the chief financial officer now owns 39,549 shares in the company, valued at $785,047.65. The trade was a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its holdings in shares of Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after buying an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Nurix Therapeutics by 31.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after acquiring an additional 559 shares in the last quarter. Quarry LP lifted its holdings in shares of 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 acquiring an additional 2,435 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Nurix Therapeutics by 1,098.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after purchasing an additional 4,119 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Nurix Therapeutics by 21.3% during the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after purchasing an additional 1,312 shares during 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.