Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $35.00 at Stifel Nicolaus

Nurix Therapeutics (NASDAQ:NRIX) had its price objective cut by Stifel Nicolaus from $36.00 to $35.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on NRIX. Stephens reaffirmed an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. BTIG Research initiated coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $35.00 price objective for the company. Leerink Partnrs upgraded shares of Nurix Therapeutics to a “hold” rating in a research report on Monday, March 17th. Morgan Stanley upped their price target on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.44.

Nurix Therapeutics Stock Down 9.0 %

Shares of NASDAQ:NRIX traded down $0.86 during midday trading on Wednesday, reaching $8.74. 896,636 shares of the company traded hands, compared to its average volume of 918,417. The firm’s fifty day moving average price is $14.42 and its two-hundred day moving average price is $19.39. The firm has a market capitalization of $666.30 million, a price-to-earnings ratio of -3.03 and a beta of 2.23. Nurix Therapeutics has a 12 month low of $8.19 and a 12 month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. The firm had revenue of $18.45 million for the quarter, compared to the consensus estimate of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same period in the prior year, the firm posted ($0.76) earnings per share. Analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the sale, the insider now directly owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Houte Hans Van sold 2,811 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the sale, the chief financial officer now owns 39,549 shares in the company, valued at approximately $785,047.65. The trade was a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock worth $213,449 in the last three months. 9.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRIX. US Bancorp DE raised its stake in shares of Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company’s stock worth $27,000 after purchasing an additional 842 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Nurix Therapeutics during the 4th quarter valued at about $28,000. Aquatic Capital Management LLC bought a new stake in shares of Nurix Therapeutics in the fourth quarter worth approximately $87,000. Summit Investment Advisors Inc. lifted its holdings in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after buying an additional 877 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Nurix Therapeutics in the fourth quarter valued at about $164,000.

Nurix Therapeutics Company Profile

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.