Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $30.00 at Oppenheimer

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price target lowered by research analysts at Oppenheimer from $32.00 to $30.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 140.15% from the company's previous close.

Other analysts have also recently issued reports about the company. Wells Fargo & Company reduced their price objective on Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Stephens reissued an "overweight" rating and issued a $30.00 price target on shares of Nurix Therapeutics in a research report on Thursday. Leerink Partners initiated coverage on Nurix Therapeutics in a report on Monday, March 17th. They issued a "market perform" rating and a $16.00 target price for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $30.12.

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $12.49 on Thursday. Nurix Therapeutics has a one year low of $8.18 and a one year high of $29.56. The stock has a market cap of $952.34 million, a P/E ratio of -4.59 and a beta of 2.15. The stock has a 50-day moving average of $11.18 and a two-hundred day moving average of $13.94.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.27. Nurix Therapeutics had a negative return on equity of 47.49% and a negative net margin of 369.40%. The company had revenue of $44,056 billion during the quarter, compared to analysts' expectations of $16.26 million. Analysts predict that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,198 shares of the firm'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 sale, the chief financial officer directly owned 33,724 shares in the company, valued at approximately $382,092.92. This trade represents a 15.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gwenn Hansen sold 3,377 shares of the firm's stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold a total of 12,013 shares of company stock valued at $137,096 in the last ninety days. Company insiders own 7.40% of the company's stock.

Institutional Trading of Nurix Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in Nurix Therapeutics during the 4th quarter worth $1,406,000. Affinity Asset Advisors LLC raised its holdings in Nurix Therapeutics by 9.3% in the 4th quarter. Affinity Asset Advisors LLC now owns 940,083 shares of the company's stock valued at $17,711,000 after acquiring an additional 79,684 shares during the period. Raymond James Financial Inc. bought a new position in Nurix Therapeutics during the fourth quarter worth about $1,026,000. RA Capital Management L.P. bought a new position in shares of Nurix Therapeutics in the fourth quarter worth about $25,120,000. Finally, Norges Bank acquired a new position in shares of Nurix Therapeutics during the fourth quarter worth $6,006,000.

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.

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