UBS Group Lowers Nurix Therapeutics (NASDAQ:NRIX) Price Target to $26.00

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its target price dropped by research analysts at UBS Group from $30.00 to $26.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price points to a potential upside of 109.00% from the stock's current price.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus decreased their price target on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company decreased 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 note on Wednesday, April 9th. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Wall Street Zen raised shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.59.

Nurix Therapeutics Stock Down 1.8%

Nurix Therapeutics stock traded down $0.23 during mid-day trading on Thursday, hitting $12.44. The company's stock had a trading volume of 1,408,338 shares, compared to its average volume of 850,512. The stock has a market capitalization of $951.03 million, a P/E ratio of -4.77 and a beta of 2.15. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $29.56. The stock's fifty day moving average price is $11.24 and its two-hundred day moving average price is $13.81.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.27. The firm had revenue of $44,056 billion for the quarter, compared to analyst estimates of $16.26 million. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. Equities analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,198 shares of Nurix Therapeutics 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 completion of the sale, the chief financial officer owned 33,724 shares of the company's stock, valued at $382,092.92. This trade represents a 15.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics 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 sale, the insider directly owned 61,516 shares of the company's stock, valued at $707,434. This trade represents a 5.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,013 shares of company stock valued at $137,096 in the last three months. Company insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake 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 valued at $200,349,000 after purchasing an additional 10,047,329 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 valued at $52,452,000 after purchasing an additional 69,856 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 valued at $67,572,000 after purchasing an additional 104,500 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake 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 valued at $28,849,000 after purchasing an additional 47,855 shares during the last quarter. Finally, Soleus Capital Management L.P. lifted its stake 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 valued at $39,617,000 after purchasing an additional 1,036,999 shares during the last quarter.

About Nurix Therapeutics

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.