Nurix Therapeutics (NASDAQ:NRIX) Shares Climb 4.1% After Analyst Upgrade

Key Points

• Nurix Therapeutics shares rose 4.1% after Oppenheimer raised its price target from $28 to $32 while maintaining an “outperform” rating. The stock is supported by a broader analyst consensus of “Moderate Buy” and an average target of $34.64.
• Nurix reported a significant third-quarter earnings beat, with $4.73 in EPS and $673.1 million in revenue versus estimates of a $0.56 loss and $24.4 million in revenue.
• The company has initiated a registrational Phase 3 trial for bexobrutideg in relapsed or refractory CLL/SLL, though analysts continue to flag risks related to its reliance on Roche and uncertain returns from the drug’s development.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s stock price was up 4.1% during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $28.00 to $32.00. Oppenheimer currently has an outperform rating on the stock. Nurix Therapeutics traded as high as $22.71 and last traded at $23.0280. Approximately 216,821 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,484,036 shares. The stock had previously closed at $22.13.

A number of other brokerages have also recently weighed in on NRIX. Mizuho upped their price objective on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. UBS Group raised their price objective on Nurix Therapeutics from $23.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. BTIG Research reiterated a "buy" rating and issued a $32.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Royal Bank Of Canada reduced their target price on shares of Nurix Therapeutics from $36.00 to $35.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Morgan Stanley boosted their target price on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $34.64.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 1,452 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total value of $36,982.44. Following the completion of the sale, the insider directly owned 117,227 shares in the company, valued at $2,985,771.69. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of Nurix Therapeutics stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the transaction, the chief financial officer directly owned 40,166 shares in the company, valued at $978,443.76. This represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 21,372 shares of company stock valued at $518,463. 6.70% of the stock is owned by insiders.

Trending Headlines about Nurix Therapeutics

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

• Positive Sentiment: Nurix initiated the registrational Phase 3 DAYBreak CLL-306 trial, testing bexobrutideg against pirtobrutinib (JAYPIRCA) in relapsed/refractory CLL/SLL. The trial could support an accelerated approval filing and potentially establish a stronger competitive position for the drug. Nurix Therapeutics Reports Third Quarter 2026 Financial Results and Provides Corporate Update
• Positive Sentiment: Nurix reported third-quarter earnings of $4.73 per share versus the consensus estimate of a $0.56 loss, while revenue of $673.1 million substantially exceeded the approximately $24.4 million forecast. The earnings beat provides near-term financial support, though investors may examine how recurring and sustainable the results are. Nurix Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Analysts remain constructive: Baird raised its price target to $36 with an “outperform” rating, Needham reaffirmed “buy” with a $34 target, and Truist maintained “buy” despite trimming its target to $33. Nurix Therapeutics Q3 2026 Earnings
• Positive Sentiment: A Seeking Alpha analysis maintained a “Strong Buy,” citing bexobrutideg’s pivotal progress, partnership potential and Nurix’s financial resources. Nurix Maintaining Strong Buy
• Neutral Sentiment: RBC Capital Markets said Nurix’s enterprise value remains underappreciated, reinforcing the possibility of valuation upside if clinical and commercial milestones are delivered. Nurix Enterprise Value Remains Underappreciated
• Negative Sentiment: Analysts flagged risks tied to Nurix’s reliance on Roche, including cost burdens, reduced control over development or commercialization and uncertain returns from bexobrutideg. These concerns could limit enthusiasm despite the favorable clinical updates. Nurix’s Reliance on Roche and Bexobrutideg Risks

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. General Atlantic L.P. purchased a new stake in Nurix Therapeutics in the fourth quarter valued at about $92,899,000. Trails Edge Capital Partners LP acquired a new stake in Nurix Therapeutics in the second quarter worth about $38,166,318. Bank of New York Mellon Corp acquired a new stake in Nurix Therapeutics in the second quarter worth about $6,614,000. Man Group plc purchased a new stake in shares of Nurix Therapeutics during the second quarter worth about $2,076,000. Finally, Baker BROS. Advisors LP grew its stake in shares of Nurix Therapeutics by 20.0% during the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company's stock worth $88,373,000 after acquiring an additional 776,431 shares during the last quarter.

Nurix Therapeutics Price Performance

The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -6.74 and a beta of 1.82. The company's fifty day moving average price is $25.17 and its 200-day moving average price is $21.00.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings data on Monday, October 12th. The company reported $4.73 EPS for the quarter, beating the consensus estimate of ($0.60) by $5.33. The firm had revenue of $673.06 million during the quarter, compared to analyst estimates of $24.35 million. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 62.20%. On average, sell-side analysts forecast that Nurix Therapeutics, Inc. will post -2.69 earnings per share for the current fiscal year.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix's pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton's tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.