Nurix Therapeutics (NASDAQ:NRIX) Price Target Cut to $26.00 by Analysts at UBS Group

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price target lowered by equities researchers at UBS Group from $30.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 104.42% from the stock's current price.

Several other analysts have also recently commented on NRIX. Stephens reiterated an "overweight" rating and issued a $30.00 price objective on shares of Nurix Therapeutics in a research note on Thursday. Wells Fargo & Company cut their price objective on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Oppenheimer cut their price objective on shares of Nurix Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday. Wall Street Zen raised shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Leerink Partners initiated coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They set a "market perform" rating and a $16.00 price target for the company. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.59.

Nurix Therapeutics Stock Performance

Shares of NRIX traded up $0.05 during midday trading on Thursday, hitting $12.72. The company had a trading volume of 377,882 shares, compared to its average volume of 849,950. The company's 50-day simple moving average is $11.22 and its 200-day simple moving average is $13.89. The firm has a market capitalization of $969.70 million, a P/E ratio of -4.85 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 posted its earnings results 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 44.91% and a negative net margin of 234.57%. Equities analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,198 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $11.33, for a total transaction of $70,223.34. Following the transaction, the chief financial officer directly owned 33,724 shares in the company, valued at $382,092.92. This represents a 15.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gwenn Hansen sold 3,377 shares of the 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 trade represents a 5.20% 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 worth $137,096 over the last quarter. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FMR LLC lifted its position in shares of Nurix Therapeutics by 1,711.9% in the 4th quarter. FMR LLC now owns 10,634,231 shares of the company's stock worth $200,349,000 after buying an additional 10,047,329 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Nurix Therapeutics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,415,122 shares of the company's stock worth $52,452,000 after buying an additional 69,856 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Nurix Therapeutics by 3.0% in the 4th quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company's stock worth $67,572,000 after acquiring an additional 104,500 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Nurix Therapeutics by 2.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,428,283 shares of the company's stock worth $28,849,000 after acquiring an additional 47,855 shares during the period. Finally, Soleus Capital Management L.P. increased its holdings in shares of Nurix Therapeutics by 97.3% in the 4th quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock worth $39,617,000 after acquiring an additional 1,036,999 shares during the period.

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.