Nurix Therapeutics (NASDAQ:NRIX) Price Target Cut to $30.00 by Analysts at Oppenheimer

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price target dropped by Oppenheimer from $32.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective indicates a potential upside of 136.78% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Leerink Partnrs raised shares of Nurix Therapeutics to a "hold" rating in a research note on Monday, March 17th. HC Wainwright reiterated a "buy" rating and set a $36.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Stephens restated an "overweight" rating and issued a $30.00 target price on shares of Nurix Therapeutics in a report on Thursday. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Nurix Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $29.59.

Nurix Therapeutics Trading Down 3.9%

NASDAQ:NRIX traded down $0.51 during mid-day trading on Thursday, hitting $12.67. The stock had a trading volume of 4,409,626 shares, compared to its average volume of 851,710. The company's 50 day simple moving average is $11.18 and its 200 day simple moving average is $13.94. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.79) by $0.27. The business had revenue of $44,056 billion for the quarter, compared to analysts' expectations of $16.26 million. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 44.91%. Sell-side analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $38,835.50. Following the sale, the insider owned 61,516 shares of the company's stock, valued at approximately $707,434. The trade was a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 6,198 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $11.33, for a total transaction of $70,223.34. Following the sale, the chief financial officer directly owned 33,724 shares in the company, valued at $382,092.92. The trade was a 15.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,013 shares of company stock worth $137,096 in the last ninety days. Insiders own 7.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted 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 buying an additional 842 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Nurix Therapeutics in the fourth quarter worth approximately $28,000. Aquatic Capital Management LLC bought a new position in Nurix Therapeutics during the fourth quarter valued at approximately $87,000. Exchange Traded Concepts LLC lifted its position in Nurix Therapeutics by 38.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock valued at $109,000 after purchasing an additional 2,562 shares during the period. Finally, E Fund Management Co. Ltd. bought a new position in Nurix Therapeutics during the first quarter valued at approximately $122,000.

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.