Wells Fargo & Company Raises Nurix Therapeutics (NASDAQ:NRIX) Price Target to $30.00

Nurix Therapeutics (NASDAQ:NRIX) had its target price boosted by equities research analysts at Wells Fargo & Company from $21.00 to $30.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 64.74% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, October 22nd. Piper Sandler cut their price target on Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of Nurix Therapeutics in a research note on Monday, December 8th. Morgan Stanley cut their target price on Nurix Therapeutics from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Finally, Mizuho raised their target price on Nurix Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $27.73.

Nurix Therapeutics Stock Down 3.3%

Nurix Therapeutics stock opened at $18.21 on Tuesday. The business’s 50-day simple moving average is $14.16 and its 200 day simple moving average is $11.92. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -6.13 and a beta of 1.87. Nurix Therapeutics has a 12-month low of $8.18 and a 12-month high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The business had revenue of $7.89 million for the quarter, compared to analyst estimates of $16.06 million. Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. As a group, sell-side analysts expect that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,284 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $12.56, for a total transaction of $78,927.04. Following the completion of the sale, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at approximately $472,155.52. This represents a 14.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gwenn Hansen sold 4,087 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $12.80, for a total transaction of $52,313.60. Following the completion of the transaction, the insider directly owned 76,751 shares in the company, valued at approximately $982,412.80. The trade was a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 13,501 shares of company stock valued at $171,305. 7.40% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently modified their holdings of NRIX. Tudor Investment Corp ET AL acquired a new stake in Nurix Therapeutics in the 3rd quarter valued at approximately $351,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Nurix Therapeutics during the 3rd quarter worth approximately $405,000. Wexford Capital LP bought a new stake in shares of Nurix Therapeutics in the third quarter worth $41,000. Velan Capital Investment Management LP boosted its holdings in Nurix Therapeutics by 60.0% during the third quarter. Velan Capital Investment Management LP now owns 16,000 shares of the company’s stock worth $148,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Vestal Point Capital LP grew its position in Nurix Therapeutics by 73.8% in the third quarter. Vestal Point Capital LP now owns 3,475,000 shares of the company’s stock valued at $32,109,000 after purchasing an additional 1,475,000 shares in 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.