Nurix Therapeutics (NASDAQ:NRIX) Given New $30.00 Price Target at Oppenheimer

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price target cut by stock analysts at Oppenheimer from $32.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price points to a potential upside of 137.44% from the company's previous close.

NRIX has been the subject of a number of other research reports. Wells Fargo & Company decreased their target price on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus cut their price target on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. HC Wainwright reissued a "buy" rating and set a $36.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, April 2nd. Needham & Company LLC reissued a "buy" rating and issued a $27.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Finally, Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a research note on Monday, March 17th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.59.

Nurix Therapeutics Stock Down 0.3%

Shares of NRIX stock traded down $0.04 during trading hours on Thursday, reaching $12.64. 658,335 shares of the stock traded hands, compared to its average volume of 851,004. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56. The business has a fifty day moving average price of $11.22 and a 200 day moving average price of $13.89. The firm has a market capitalization of $963.29 million, a PE ratio of -4.84 and a beta of 2.15.

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

Insiders Place Their Bets

In related news, insider Gwenn Hansen sold 3,377 shares of the company's 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 transaction, the insider owned 61,516 shares in the company, valued at $707,434. This represents a 5.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the chief financial officer directly owned 33,724 shares of the company's stock, valued at approximately $382,092.92. This represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,013 shares of company stock valued at $137,096 over the last ninety days. Insiders own 7.40% of the company's stock.

Institutional Trading of Nurix Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE boosted its stake in Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock valued at $27,000 after acquiring an additional 842 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics during the fourth quarter valued at approximately $28,000. Aquatic Capital Management LLC bought a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $87,000. Exchange Traded Concepts LLC grew its position in shares of Nurix Therapeutics by 38.9% in 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 last quarter. Finally, E Fund Management Co. Ltd. acquired a new position in Nurix Therapeutics in the 1st quarter valued at $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.