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

Key Points

• Analysts maintain a Moderate Buy consensus on Nurix Therapeutics, with 13 buy ratings, one hold and one sell among 15 analysts. The average 12-month price target is $34.21, above the stock’s reported $23.01 price.
• Recent analyst actions were mixed but generally favorable: RBC and UBS raised their price targets, while BTIG reiterated a buy rating; Wells Fargo downgraded the stock to hold and Weiss Ratings maintained a sell rating.
• Nurix reported weaker-than-expected quarterly results, with an adjusted loss of $0.81 per share versus the $0.73 consensus estimate and revenue of $9.04 million versus expectations of $15.29 million. Insiders sold 21,372 shares worth about $518,000 over the past 90 days.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has received a consensus rating of "Moderate Buy" from the fifteen analysts that are presently covering the stock, MarketBeat 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 12 month price objective among brokers that have issued a report on the stock in the last year is $34.21.

A number of equities analysts have recently commented on NRIX shares. BTIG Research reissued a "buy" rating and set a $32.00 price objective on shares of Nurix Therapeutics in a research report on Friday, July 10th. Wells Fargo & Company cut shares of Nurix Therapeutics from an "overweight" rating to a "hold" rating and reduced their target price for the company from $28.00 to $25.00 in a report on Monday, June 8th. Royal Bank Of Canada lifted their price target on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nurix Therapeutics in a report on Friday, July 17th. Finally, UBS Group increased their price objective on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 1,452 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total transaction of $36,982.44. Following the sale, the insider owned 117,227 shares of the company's stock, valued at approximately $2,985,771.69. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the transaction, the chief financial officer owned 40,166 shares of the company's stock, valued at approximately $978,443.76. The trade was 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. In the last 90 days, insiders have sold 21,372 shares of company stock valued at $518,463. 6.70% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

A number of large investors have recently made changes to their positions in NRIX. Nykredit A S purchased a new stake in Nurix Therapeutics in the second quarter valued at approximately $32,000. Integrated Wealth Concepts LLC purchased a new position in shares of Nurix Therapeutics during the second quarter worth approximately $33,000. KBC Group NV purchased a new position in shares of Nurix Therapeutics during the first quarter worth approximately $34,000. Avalon Trust Co acquired a new position in shares of Nurix Therapeutics in the 2nd quarter valued at $64,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $53,000.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $23.01 on Monday. The company has a market cap of $2.39 billion, a P/E ratio of -6.67 and a beta of 1.80. Nurix Therapeutics has a fifty-two week low of $8.33 and a fifty-two week high of $28.23. The firm's 50 day moving average price is $25.33 and its 200 day moving average price is $20.36.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) 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). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The business had revenue of $9.04 million during the quarter, compared to analysts' expectations of $15.29 million. Research analysts forecast that Nurix Therapeutics will post -2.69 earnings per share for the current year.

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.

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