Nurix Therapeutics (NASDAQ:NRIX) Given New $36.00 Price Target at Royal Bank Of Canada

Nurix Therapeutics (NASDAQ:NRIX) had its target price increased by research analysts at Royal Bank Of Canada from $33.00 to $36.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 40.67% from the company’s current price.

Other analysts have also recently issued research reports about the company. Robert W. Baird upped their price objective on Nurix Therapeutics from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. HC Wainwright 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. Wall Street Zen raised Nurix Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, BTIG Research restated a “buy” rating and set a $32.00 price objective on shares of Nurix Therapeutics in a research note on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.21.

Nurix Therapeutics Stock Up 0.2%

Shares of NRIX traded up $0.06 during midday trading on Monday, hitting $25.59. The company had a trading volume of 200,664 shares, compared to its average volume of 1,488,954. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -7.42 and a beta of 1.79. The company’s 50 day moving average price is $21.26 and its 200 day moving average price is $18.05. Nurix Therapeutics has a 52 week low of $8.19 and a 52 week high of $25.89.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The company had revenue of $9.04 million for the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. Equities analysts anticipate that Nurix Therapeutics will post -2.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Gwenn Hansen sold 5,394 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the sale, the insider directly owned 115,005 shares in the company, valued at approximately $2,300,100. This represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 40,166 shares in the company, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 25,314 shares of company stock valued at $589,361. 6.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its position in Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after buying an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management acquired a new position in shares of Nurix Therapeutics during the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nurix Therapeutics during the fourth quarter valued at $33,000. KBC Group NV bought a new position in shares of Nurix Therapeutics during the first quarter worth about $34,000. Finally, Wexford Capital LP bought a new position in shares of Nurix Therapeutics during the third quarter worth about $41,000.

Nurix Therapeutics Company Profile

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.