Nurix Therapeutics (NASDAQ:NRIX) Price Target Raised to $30.00

Nurix Therapeutics (NASDAQ:NRIX) had its target price boosted by Royal Bank Of Canada from $28.00 to $30.00 in a report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Piper Sandler lifted their price target on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. Truist Financial began coverage on Nurix Therapeutics in a research report on Monday, November 24th. They set a “buy” rating and a $30.00 target price on the stock. Morgan Stanley set a $36.00 price target on Nurix Therapeutics and gave the company an “overweight” rating in a research note on Thursday, January 8th. Finally, Wells Fargo & Company lowered their price target on Nurix Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Nurix Therapeutics Price Performance

Shares of NRIX stock opened at $16.52 on Thursday. The stock’s 50-day moving average is $18.50 and its 200 day moving average is $13.37. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $22.50. The company has a market cap of $1.27 billion, a P/E ratio of -5.43 and a beta of 1.93.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Wednesday, January 28th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.02. Nurix Therapeutics had a negative net margin of 314.90% and a negative return on equity of 57.51%. The business had revenue of $13.58 million during the quarter, compared to analyst estimates of $13.41 million. On average, analysts anticipate that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $60,772.60. Following the sale, the chief financial officer owned 45,427 shares in the company, valued at $754,088.20. This represents a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gwenn Hansen sold 4,895 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $81,257.00. Following the transaction, the insider owned 83,672 shares of the company’s stock, valued at $1,388,955.20. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,840 shares of company stock worth $220,957 over the last ninety days. Insiders own 7.40% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of hedge funds have recently modified their holdings of NRIX. Vanguard Group Inc. raised its position in Nurix Therapeutics by 32.5% during the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after acquiring an additional 1,460,736 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of Nurix Therapeutics by 73.8% during the 3rd quarter. Vestal Point Capital LP now owns 3,475,000 shares of the company’s stock worth $32,109,000 after purchasing an additional 1,475,000 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Nurix Therapeutics by 75.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,467,600 shares of the company’s stock valued at $65,780,000 after purchasing an additional 1,487,060 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Nurix Therapeutics by 9.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,881,960 shares of the company’s stock valued at $21,437,000 after purchasing an additional 157,592 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Nurix Therapeutics by 11.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,557,479 shares of the company’s stock valued at $14,391,000 after purchasing an additional 165,841 shares during the period.

Nurix Therapeutics News Roundup

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on NRIX to $30 and maintained an outperform view, signaling significant upside versus the current stock level. RBC increases price target to $30
• Positive Sentiment: Needham & Company reaffirmed a “buy” rating with a $26 target and BTIG reiterated a buy with a $30 target — multiple brokerages maintaining bullish outlooks provide support for upside expectations. Needham and BTIG ratings
• Negative Sentiment: Insiders sold shares on Jan. 30: Gwenn Hansen sold 4,895 shares at ~$16.60 and CFO Houte Hans Van sold 3,661 shares at ~$16.60. Insider sales can be viewed negatively by the market because they reduce insider ownership and may signal cashing out. SEC filings: Hansen Form 4 and Van Form 4
• Negative Sentiment: TipRanks highlighted a newly disclosed material foreign‑exchange risk for Nurix due to unhedged currency exposure, which could increase earnings volatility and raise capital‑markets uncertainty. TipRanks: FX risk disclosed

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.