Jefferies Financial Group Issues Positive Forecast for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Key Points

• Jefferies raised its price target on Nurix Therapeutics to $45 from $41 and kept a buy rating, implying substantial upside from the prior close.
• The stock rose 6.3% to $15.56 on heavy trading volume, while analysts overall still rate it Moderate Buy with an average target of $31.86.
• Nurix recently reported a wider-than-expected quarterly loss and weaker revenue, even as investors remain focused on the company’s pipeline and recent positive analyst sentiment.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its target price raised by investment analysts at Jefferies Financial Group from $41.00 to $45.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 189.20% from the company's previous close.

Other analysts have also issued research reports about the company. HC Wainwright reissued a "buy" rating and issued a $32.00 target price on shares of Nurix Therapeutics in a report on Monday, April 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Needham & Company LLC upped their price objective on Nurix Therapeutics from $26.00 to $34.00 and gave the company a "buy" rating in a research report on Monday. BTIG Research reissued a "buy" rating and issued a $30.00 target price on shares of Nurix Therapeutics in a research note on Monday, May 18th. Finally, Wells Fargo & Company cut their price objective on shares of Nurix Therapeutics from $29.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.86.

Nurix Therapeutics Trading Up 6.3%

Shares of Nurix Therapeutics stock traded up $0.92 on Monday, reaching $15.56. 17,398,159 shares of the stock were exchanged, compared to its average volume of 1,276,667. The firm has a market capitalization of $1.61 billion, a PE ratio of -4.93 and a beta of 1.86. Nurix Therapeutics has a 1-year low of $8.19 and a 1-year high of $22.50. The business has a fifty day moving average price of $16.33 and a two-hundred day moving average price of $16.88.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The business had revenue of $6.25 million during the quarter, compared to analysts' expectations of $14.25 million. Research analysts expect that Nurix Therapeutics will post -2.94 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the transaction, the chief financial officer directly owned 37,592 shares of the company's stock, valued at $624,027.20. This trade represents a 27.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 3,214 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $16.65, for a total value of $53,513.10. Following the completion of the sale, the insider directly owned 120,399 shares of the company's stock, valued at $2,004,643.35. The trade was a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 19,657 shares of company stock worth $326,586. Company insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NRIX. Larson Financial Group LLC boosted its stake in shares of Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock valued at $29,000 after buying an additional 1,190 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Nurix Therapeutics by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company's stock worth $1,290,000 after buying an additional 1,476 shares during the last quarter. Intesa Sanpaolo Wealth Management bought a new stake in shares of Nurix Therapeutics in the 4th quarter valued at approximately $31,000. Royal Bank of Canada lifted its stake in Nurix Therapeutics by 17.6% during the fourth quarter. Royal Bank of Canada now owns 10,842 shares of the company's stock worth $206,000 after purchasing an additional 1,623 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Nurix Therapeutics by 8.2% in the 4th quarter. Arizona State Retirement System now owns 21,990 shares of the company's stock worth $417,000 after buying an additional 1,674 shares during the last quarter.

Nurix Therapeutics News Summary

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Nurix and Roche signed a global collaboration to co-develop and co-commercialize bexobrutideg, validating Nurix’s drug platform and expanding the asset’s reach across blood cancers, immunology, and neurology. Article Title
• Positive Sentiment: The agreement provides Nurix with $700 million upfront and up to $2.3 billion in total potential payments, a significant non-dilutive funding boost that could support further pipeline development. Article Title
• Positive Sentiment: Roche’s involvement and expanded clinical plans for chronic lymphocytic leukemia, multiple sclerosis, and chronic spontaneous urticaria suggest broader commercial potential for bexobrutideg than investors previously modeled. Article Title
• Positive Sentiment: Needham raised its price target on Nurix to $34 from $26 and kept a buy rating, reflecting improved confidence after the Roche deal. Article Title

About Nurix Therapeutics

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.

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