Brokerages Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Price Target at $21.33

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.33.

Several equities research analysts recently commented on the stock. Robert W. Baird lifted their price target on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. HC Wainwright decreased their price objective on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada lifted their price objective on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Needham & Company LLC restated a “buy” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. Finally, Morgan Stanley raised their price objective on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th.

Nurix Therapeutics Trading Down 1.3 %

Shares of NRIX stock opened at $13.98 on Monday. The company has a market cap of $687.12 million, a P/E ratio of -5.26 and a beta of 2.10. The firm has a fifty day moving average price of $13.94 and a 200 day moving average price of $10.11. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $18.12.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.04. The business had revenue of $16.59 million for the quarter, compared to analyst estimates of $14.58 million. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. On average, equities analysts forecast that Nurix Therapeutics will post -3.15 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 6,812 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.02, for a total value of $68,256.24. Following the completion of the transaction, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at approximately $684,696.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 13,705 shares of company stock worth $154,012. 9.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its position in Nurix Therapeutics by 23.2% during the fourth quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock worth $32,972,000 after buying an additional 601,952 shares in the last quarter. Affinity Asset Advisors LLC raised its holdings in Nurix Therapeutics by 176.0% in the 4th quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock valued at $7,122,000 after acquiring an additional 440,112 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Nurix Therapeutics by 48.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 568,576 shares of the company’s stock worth $4,469,000 after purchasing an additional 184,617 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Nurix Therapeutics by 1,012.4% during the third quarter. GSA Capital Partners LLP now owns 195,420 shares of the company’s stock worth $1,536,000 after purchasing an additional 177,852 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its position in shares of Nurix Therapeutics by 192.7% in the third quarter. Kennedy Capital Management LLC now owns 163,623 shares of the company’s stock valued at $1,286,000 after purchasing an additional 107,719 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.