Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $25.00 at Wells Fargo & Company

Nurix Therapeutics (NASDAQ:NRIX) had its target price lowered by investment analysts at Wells Fargo & Company from $28.00 to $25.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 60.67% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group boosted their price objective on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC raised their price target on Nurix Therapeutics from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Monday. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of Nurix Therapeutics in a research note on Monday, May 18th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a report on Monday, April 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.86.

Nurix Therapeutics Stock Up 6.3%

NRIX stock traded up $0.92 during midday trading on Monday, reaching $15.56. 17,398,159 shares of the company’s stock traded hands, compared to its average volume of 1,276,667. Nurix Therapeutics has a 1-year low of $8.19 and a 1-year high of $22.50. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -4.93 and a beta of 1.86. The company has a 50-day simple moving average of $16.33 and a two-hundred day simple moving average of $16.88.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The business had revenue of $6.25 million for the quarter, compared to analyst estimates of $14.25 million. Equities research analysts forecast that Nurix Therapeutics will post -2.94 EPS for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,214 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $16.65, for a total transaction of $53,513.10. Following the completion of the transaction, the insider directly owned 120,399 shares in the company, valued at $2,004,643.35. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Houte Hans Van sold 14,055 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the sale, the chief financial officer directly owned 37,592 shares in the company, valued at approximately $624,027.20. This represents a 27.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,657 shares of company stock worth $326,586 over the last three months. 6.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings in shares of Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock valued at $29,000 after acquiring an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management bought a new position in Nurix Therapeutics in the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nurix Therapeutics during the fourth quarter valued at about $33,000. KBC Group NV bought a new stake in shares of Nurix Therapeutics during the first quarter worth about $34,000. Finally, Wexford Capital LP bought a new stake in shares of Nurix Therapeutics during the third quarter worth about $41,000.

Trending Headlines about Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Nurix and Roche signed a global collaboration to co-develop and co-commercialize bexobrutideg, validating Nurix’s drug platform and expanding the asset’s reach across blood cancers, immunology, and neurology. Article Title
• Positive Sentiment: The agreement provides Nurix with $700 million upfront and up to $2.3 billion in total potential payments, a significant non-dilutive funding boost that could support further pipeline development. Article Title
• Positive Sentiment: Roche’s involvement and expanded clinical plans for chronic lymphocytic leukemia, multiple sclerosis, and chronic spontaneous urticaria suggest broader commercial potential for bexobrutideg than investors previously modeled. Article Title
• Positive Sentiment: Needham raised its price target on Nurix to $34 from $26 and kept a buy rating, reflecting improved confidence after the Roche deal. Article Title

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.