Nurix Therapeutics (NASDAQ:NRIX) PT Raised to $23.00 at Royal Bank of Canada

Nurix Therapeutics (NASDAQ:NRIX) had its price objective boosted by equities researchers at Royal Bank of Canada from $22.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 37.40% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. HC Wainwright reduced their price objective on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Tuesday. Morgan Stanley raised their target price on Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Wells Fargo & Company cut their target price on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Finally, Robert W. Baird raised their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $16.74 on Thursday. The business’s fifty day moving average price is $12.64 and its 200 day moving average price is $9.26. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $18.12. The stock has a market capitalization of $822.77 million, a PE ratio of -6.29 and a beta of 2.06.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.26). Nurix Therapeutics had a negative return on equity of 62.54% and a negative net margin of 178.93%. The firm had revenue of $15.16 million for the quarter, compared to the consensus estimate of $30.66 million. As a group, research analysts anticipate that Nurix Therapeutics will post -3.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Houte Hans Van sold 6,812 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $10.02, for a total transaction of $68,256.24. Following the transaction, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at $684,696.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 10,817 shares of company stock valued at $100,256. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NRIX. Wellington Management Group LLP lifted its holdings in shares of Nurix Therapeutics by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 205,324 shares of the company’s stock valued at $2,119,000 after buying an additional 60,271 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Nurix Therapeutics by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,389,966 shares of the company’s stock valued at $24,665,000 after buying an additional 11,988 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Nurix Therapeutics by 35.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 49,018 shares of the company’s stock valued at $506,000 after buying an additional 12,880 shares during the last quarter. Virtus ETF Advisers LLC lifted its holdings in shares of Nurix Therapeutics by 14.9% during the 4th quarter. Virtus ETF Advisers LLC now owns 10,356 shares of the company’s stock valued at $107,000 after buying an additional 1,345 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Nurix Therapeutics by 1.9% during the 4th quarter. Barclays PLC now owns 68,739 shares of the company’s stock valued at $709,000 after buying an additional 1,272 shares during the last quarter.

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.