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 objective cut by equities researchers at UBS Group from $30.00 to $26.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective would indicate a potential upside of 109.00% from the company's previous close.

A number of other equities research analysts have also recently weighed in on the company. Stifel Nicolaus lowered their price target on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Oppenheimer lowered their target price on Nurix Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday. Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a research report on Monday, March 17th. HC Wainwright reissued a "buy" rating and issued a $36.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $27.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $29.59.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX traded down $0.23 during trading on Thursday, hitting $12.44. 1,408,338 shares of the company were exchanged, compared to its average volume of 852,781. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $29.56. The company has a market cap of $951.04 million, a price-to-earnings ratio of -4.77 and a beta of 2.15. The firm's fifty day moving average price is $11.24 and its 200 day moving average price is $13.85.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.27. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. The firm had revenue of $44,056 billion during the quarter, compared to analysts' expectations of $16.26 million. On average, research analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total transaction of $38,835.50. Following the completion of the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 6,198 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $11.33, for a total value of $70,223.34. Following the completion of the transaction, the chief financial officer owned 33,724 shares in the company, valued at approximately $382,092.92. This trade represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,013 shares of company stock valued at $137,096. Corporate insiders own 7.40% of the company's stock.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently modified their holdings of NRIX. Jump Financial LLC acquired a new position in Nurix Therapeutics during the fourth quarter valued at approximately $1,406,000. Affinity Asset Advisors LLC boosted its position in Nurix Therapeutics by 9.3% during the 4th quarter. Affinity Asset Advisors LLC now owns 940,083 shares of the company's stock worth $17,711,000 after purchasing an additional 79,684 shares during the period. Raymond James Financial Inc. purchased a new stake in Nurix Therapeutics during the 4th quarter worth $1,026,000. RA Capital Management L.P. acquired a new stake in Nurix Therapeutics in the 4th quarter valued at $25,120,000. Finally, Norges Bank purchased a new position in Nurix Therapeutics in the fourth quarter valued at about $6,006,000.

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.