Nurix Therapeutics (NASDAQ:NRIX) Coverage Initiated at UBS Group

Investment analysts at UBS Group began coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. UBS Group’s price objective points to a potential upside of 33.23% from the stock’s current price.

A number of other brokerages have also issued reports on NRIX. Oppenheimer boosted their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Barclays boosted their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. upped their price target on Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Needham & Company LLC reissued a “buy” rating and set a $29.00 price target on shares of Nurix Therapeutics in a research report on Monday, October 21st. Finally, Truist Financial began coverage on Nurix Therapeutics in a research report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Nurix Therapeutics Stock Up 4.2 %

Shares of Nurix Therapeutics stock opened at $26.27 on Thursday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -9.00 and a beta of 2.22. The business has a fifty day simple moving average of $24.01 and a 200-day simple moving average of $19.88. Nurix Therapeutics has a fifty-two week low of $4.22 and a fifty-two week high of $27.07.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.67). The company had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. Analysts anticipate that Nurix Therapeutics will post -2.84 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,490 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares in the company, valued at approximately $1,126,080.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christine Ring sold 5,760 shares of the stock in a transaction that occurred 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 sale, the insider now owns 24,592 shares of the company’s stock, valued at approximately $527,006.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,105 shares of company stock worth $1,507,181. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in Nurix Therapeutics by 576.7% in the 1st quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock valued at $2,355,000 after acquiring an additional 136,606 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Nurix Therapeutics by 365.0% in the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock worth $2,154,000 after buying an additional 81,005 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Nurix Therapeutics by 80.7% in the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after buying an additional 144,700 shares in the last quarter. TD Asset Management Inc acquired a new position in shares of Nurix Therapeutics in the 2nd quarter worth approximately $593,000. Finally, Candriam S.C.A. raised its holdings in shares of Nurix Therapeutics by 30.5% in the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after buying an additional 272,136 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.