Brokerages Set Nurix Therapeutics, Inc. (NASDAQ:NRIX) Target Price at $28.87

Key Points

• Nurix Therapeutics has received a consensus rating of "Moderate Buy" from 16 brokerages, with an average 12-month target price of $28.87.
• Insider trading activity includes Gwenn Hansen selling 4,308 shares and CFO Houte Hans Van selling 5,402 shares, leading to significant decreases in their ownership stakes.
• Recently, shares of Nurix Therapeutics traded at approximately $10.14, with a 1-year price range between $8.18 and $29.56.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $28.8667.

Several research firms have recently issued reports on NRIX. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Morgan Stanley set a $16.00 price objective on Nurix Therapeutics and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. HC Wainwright cut their price target on Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, July 14th. Stephens reiterated an "overweight" rating and issued a $30.00 price target on shares of Nurix Therapeutics in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 5,402 shares of Nurix Therapeutics stock in a transaction on Friday, August 1st. The stock was sold at an average price of $11.03, for a total value of $59,584.06. Following the transaction, the chief financial officer directly owned 35,512 shares in the company, valued at approximately $391,697.36. This trade represents a 13.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 4,308 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total value of $51,739.08. Following the completion of the sale, the insider directly owned 69,023 shares of the company's stock, valued at $828,966.23. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,014 shares of company stock worth $163,014 over the last quarter. Company insiders own 7.40% of the company's stock.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently made changes to their positions in NRIX. RA Capital Management L.P. acquired a new stake in shares of Nurix Therapeutics in the 4th quarter worth $25,120,000. Soleus Capital Management L.P. boosted its position in shares of Nurix Therapeutics by 97.3% in the 4th quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock worth $39,617,000 after purchasing an additional 1,036,999 shares in the last quarter. Vestal Point Capital LP boosted its position in shares of Nurix Therapeutics by 77.7% in the 2nd quarter. Vestal Point Capital LP now owns 2,000,000 shares of the company's stock worth $22,780,000 after purchasing an additional 874,448 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Nurix Therapeutics in the 4th quarter worth $16,447,000. Finally, Perceptive Advisors LLC lifted its position in Nurix Therapeutics by 268.7% during the 2nd quarter. Perceptive Advisors LLC now owns 1,096,985 shares of the company's stock worth $12,495,000 after acquiring an additional 799,432 shares during the period.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX traded down $0.14 during trading on Friday, hitting $9.53. 620,553 shares of the company's stock were exchanged, compared to its average volume of 684,601. The business's 50-day simple moving average is $11.36 and its 200 day simple moving average is $11.95. Nurix Therapeutics has a 52-week low of $8.18 and a 52-week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, beating analysts' consensus estimates of ($0.79) by $0.27. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%.The company had revenue of $44,056 billion during the quarter, compared to analyst estimates of $16.26 million. Equities research analysts forecast that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

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.