Nurix Therapeutics, Inc. (NASDAQ:NRIX) Stock Has Consensus Target Price of $34.21

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $34.21.

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 10th. BTIG Research restated a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a research report on Friday, July 10th. HC Wainwright lifted their target price on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Robert W. Baird lifted their target price on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Finally, Truist Financial boosted their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 10th.

Nurix Therapeutics Stock Up 0.2%

NRIX opened at $23.71 on Monday. The firm has a market cap of $2.46 billion, a P/E ratio of -6.87 and a beta of 1.80. The business’s fifty day simple moving average is $25.36 and its 200 day simple moving average is $20.52. Nurix Therapeutics has a 52 week low of $8.85 and a 52 week high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. As a group, equities analysts expect that Nurix Therapeutics will post -2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Hans van Houte sold 4,761 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the completion of the transaction, the chief financial officer directly owned 40,166 shares in the company, valued at approximately $978,443.76. This represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $25.47, for a total value of $36,982.44. Following the transaction, the insider owned 117,227 shares in the company, valued at $2,985,771.69. This trade represents a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 21,372 shares of company stock valued at $518,463. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Nurix Therapeutics during the second quarter worth approximately $212,769,000. General Atlantic L.P. acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $92,899,000. Baker BROS. Advisors LP grew its stake in shares of Nurix Therapeutics by 20.0% during the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after buying an additional 776,431 shares during the period. Perceptive Advisors LLC increased its holdings in shares of Nurix Therapeutics by 4.4% during the 1st quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock worth $57,519,000 after buying an additional 155,000 shares during the last quarter. Finally, Trails Edge Capital Partners LP acquired a new stake in shares of Nurix Therapeutics during the 2nd quarter worth $38,166,318.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the body’s natural protein-disposal systems to treat cancer and other serious diseases. The company’s approach centers on targeted protein modulation, including the use of small molecules to promote the degradation of disease-causing proteins or alter the activity of proteins involved in immune responses.

Nurix’s technology platform is built around E3 ligases, enzymes that help determine which proteins are marked for destruction inside cells.