Nurix Therapeutics (NASDAQ:NRIX) PT Raised to $23.00 at Royal Bank of Canada

Nurix Therapeutics (NASDAQ:NRIX - Free Report) had its price objective lifted by Royal Bank of Canada from $22.00 to $23.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company lowered their target price on Nurix Therapeutics from $23.00 to $20.00 and set an overweight rating for the company in a report on Friday, February 16th. Needham & Company LLC restated a buy rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday. Robert W. Baird lifted their price target on Nurix Therapeutics from $24.00 to $25.00 and gave the company an outperform rating in a report on Thursday. Morgan Stanley increased their price objective on Nurix Therapeutics from $9.00 to $10.00 and gave the stock an equal weight rating in a report on Monday, February 26th. Finally, HC Wainwright reduced their price target on Nurix Therapeutics from $35.00 to $19.00 and set a buy rating for the company in a research report on Tuesday, February 20th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $21.33.

Nurix Therapeutics Stock Up 9.7 %

Shares of NRIX traded up $1.52 during trading on Thursday, reaching $17.21. The company's stock had a trading volume of 1,048,176 shares, compared to its average volume of 859,281. Nurix Therapeutics has a twelve month low of $4.22 and a twelve month high of $18.12. The company has a market cap of $845.89 million, a price-to-earnings ratio of -6.49 and a beta of 2.06. The company has a fifty day moving average of $12.28 and a two-hundred day moving average of $9.15.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.26). The company had revenue of $15.16 million during the quarter, compared to analyst estimates of $30.66 million. Nurix Therapeutics had a negative net margin of 186.98% and a negative return on equity of 59.47%. As a group, equities analysts forecast that Nurix Therapeutics will post -3.26 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 6,812 shares of Nurix Therapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.02, for a total transaction of $68,256.24. Following the transaction, the chief financial officer now directly owns 68,333 shares of the company's stock, valued at $684,696.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 10,817 shares of company stock worth $100,256 over the last quarter. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of Nurix Therapeutics by 8.0% during the 1st quarter. Swiss National Bank now owns 47,500 shares of the company's stock valued at $665,000 after buying an additional 3,500 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Nurix Therapeutics by 34.1% in the 1st quarter. JPMorgan Chase & Co. now owns 120,516 shares of the company's stock valued at $1,688,000 after purchasing an additional 30,664 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Nurix Therapeutics by 58.5% in the first quarter. MetLife Investment Management LLC now owns 18,670 shares of the company's stock worth $262,000 after purchasing an additional 6,891 shares in the last quarter. Rhumbline Advisers raised its holdings in Nurix Therapeutics by 4.9% during the first quarter. Rhumbline Advisers now owns 33,511 shares of the company's stock valued at $469,000 after buying an additional 1,573 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Nurix Therapeutics by 104.1% in the first quarter. Dimensional Fund Advisors LP now owns 237,525 shares of the company's stock worth $3,328,000 after buying an additional 121,167 shares during the last quarter.

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.