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

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price objective cut by equities research analysts at Oppenheimer from $32.00 to $30.00 in a report released on Thursday, July 10th, MarketBeat reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 160.42% from the stock's previous close.

Several other brokerages have also recently weighed in on NRIX. HC Wainwright reissued a "buy" rating and set a $36.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Stephens reissued an "overweight" rating and set a $30.00 price objective on shares of Nurix Therapeutics in a report on Thursday, July 10th. Wall Street Zen raised Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Stifel Nicolaus dropped their price objective on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their price objective on Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Nurix Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $29.31.

Nurix Therapeutics Trading Down 0.1%

NASDAQ NRIX traded down $0.01 on Thursday, hitting $11.52. 476,863 shares of the company were exchanged, compared to its average volume of 976,305. The firm has a 50 day moving average of $11.64 and a two-hundred day moving average of $13.29. The company has a market cap of $880.70 million, a P/E ratio of -4.41 and a beta of 2.15. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year 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 for the quarter, topping the consensus estimate of ($0.79) by $0.27. The firm 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 45.26% and a negative net margin of 234.57%. Research analysts anticipate that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,198 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $382,092.92. This represents a 15.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gwenn Hansen sold 3,377 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $38,835.50. Following the sale, the insider directly owned 61,516 shares of the company's stock, valued at approximately $707,434. The trade was a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,013 shares of company stock valued at $137,096. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently bought and sold shares of NRIX. The Manufacturers Life Insurance Company raised its holdings in shares of Nurix Therapeutics by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company's stock valued at $585,000 after purchasing an additional 642 shares during the period. Corebridge Financial Inc. raised its stake in Nurix Therapeutics by 2.3% in the fourth quarter. Corebridge Financial Inc. now owns 34,907 shares of the company's stock valued at $658,000 after buying an additional 770 shares during the period. Kennedy Capital Management LLC boosted its stake in shares of Nurix Therapeutics by 0.7% during the 4th quarter. Kennedy Capital Management LLC now owns 114,623 shares of the company's stock worth $2,159,000 after acquiring an additional 785 shares during the period. US Bancorp DE boosted its stake in shares of Nurix Therapeutics by 144.7% during the 4th quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after acquiring an additional 842 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock worth $138,000 after acquiring an additional 877 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.