Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $40.00

Key Points

• Stifel Nicolaus raised Nurix Therapeutics’ price target from $34 to $40 and kept a buy rating, implying about 70.5% upside from the previous close.
• The stock has been volatile: it opened at $23.46, is near its 52-week high of $25.08, and recently traded down about 5%.
• Nurix’s latest quarterly results missed expectations, with a loss of $0.81 per share versus an expected $0.72 loss and revenue of $9.04 million versus $15.29 million expected.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price target lifted by research analysts at Stifel Nicolaus from $34.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price target indicates a potential upside of 70.50% from the company's previous close.

A number of other research firms have also recently commented on NRIX. Wells Fargo & Company cut shares of Nurix Therapeutics from an "overweight" rating to a "hold" rating and reduced their price target for the stock from $28.00 to $25.00 in a report on Monday, June 8th. HC Wainwright upped their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a "buy" rating in a report on Friday. Oppenheimer initiated coverage on shares of Nurix Therapeutics in a research report on Monday, June 29th. They set an "outperform" rating and a $28.00 price objective on the stock. Truist Financial raised their target price on Nurix Therapeutics from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Finally, Robert W. Baird boosted their target price on Nurix Therapeutics from $26.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, June 18th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.62.

Nurix Therapeutics Trading Down 5.0%

Shares of NRIX opened at $23.46 on Friday. The stock has a market capitalization of $2.43 billion, a P/E ratio of -7.54 and a beta of 1.80. The firm's fifty day simple moving average is $18.31 and its two-hundred day simple moving average is $17.33. Nurix Therapeutics has a 12 month low of $8.19 and a 12 month high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.09). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The company had revenue of $9.04 million during the quarter, compared to the consensus estimate of $15.29 million. As a group, research analysts predict that Nurix Therapeutics will post -2.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 5,394 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the sale, the insider owned 115,005 shares of the company's stock, valued at $2,300,100. This trade represents a 4.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of Nurix Therapeutics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the sale, the chief financial officer owned 37,592 shares in the company, valued at approximately $624,027.20. This trade represents a 27.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 25,051 shares of company stock valued at $434,466. 6.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC lifted its holdings in Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock worth $29,000 after buying an additional 1,190 shares during the period. California State Teachers Retirement System grew its holdings in shares of Nurix Therapeutics by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company's stock worth $1,290,000 after acquiring an additional 1,476 shares during the period. Intesa Sanpaolo Wealth Management purchased a new position in shares of Nurix Therapeutics during the 4th quarter worth approximately $31,000. Royal Bank of Canada raised its position in shares of Nurix Therapeutics by 17.6% in the 4th quarter. Royal Bank of Canada now owns 10,842 shares of the company's stock worth $206,000 after acquiring an additional 1,623 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Nurix Therapeutics by 8.2% in the 4th quarter. Arizona State Retirement System now owns 21,990 shares of the company's stock valued at $417,000 after purchasing an additional 1,674 shares during the period.

Trending Headlines about Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Nurix announced a global collaboration with Roche for bexobrutideg that could bring up to $2.3 billion in total payments, including a $700 million upfront payment, which is a major validation of the company’s pipeline and a meaningful source of non-dilutive capital. Article Title
• Positive Sentiment: Needham & Company LLC reaffirmed its Buy rating and set a $34 price target, implying notable upside from recent trading levels. Article Title
• Positive Sentiment: BTIG Research also reiterated a Buy rating with a $32 price target, reinforcing the view that the Roche deal and broader pipeline remain attractive to analysts. Article Title
• Neutral Sentiment: Nurix’s second-quarter results were weaker than expected, with a loss of $0.81 per share versus estimates for a $0.72 loss and revenue of $9.04 million versus $15.29 million expected, highlighting ongoing operating losses and revenue volatility. Article Title
• Neutral Sentiment: Additional coverage of the Q2 2026 earnings release echoed the same miss on EPS and revenue, which may temper enthusiasm but is partly offset by the Roche collaboration and analyst upgrades. Article Title

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company's pipeline includes multiple programs in various stages of development.

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