HC Wainwright Issues Positive Forecast for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Nurix Therapeutics (NASDAQ:NRIX) had its target price upped by HC Wainwright from $30.00 to $35.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 58.66% from the company’s previous close.

Several other research firms also recently commented on NRIX. Stephens reaffirmed an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a report on Monday, October 14th. UBS Group assumed coverage on shares of Nurix Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $35.00 price objective for the company. Oppenheimer increased their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research report on Tuesday. Finally, BMO Capital Markets initiated coverage on Nurix Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Nurix Therapeutics has an average rating of “Moderate Buy” and an average price target of $30.35.

Nurix Therapeutics Stock Up 6.8 %

NRIX stock opened at $22.06 on Wednesday. The firm has a market cap of $1.56 billion, a PE ratio of -7.58 and a beta of 2.11. The business has a 50 day moving average of $23.72 and a 200-day moving average of $22.10. Nurix Therapeutics has a 12-month low of $7.65 and a 12-month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.67). The firm had revenue of $12.59 million during the quarter, compared to the consensus estimate of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. On average, research analysts expect that Nurix Therapeutics will post -2.81 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,368 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $57,542.40. Following the completion of the sale, the chief financial officer now directly owns 37,270 shares in the company, valued at approximately $905,661. The trade was a 5.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christine Ring sold 5,760 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $22.23, for a total transaction of $128,044.80. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $546,680.16. This represents a 18.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,401 shares of company stock valued at $437,453. Insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in Nurix Therapeutics by 365.0% during the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock valued at $2,154,000 after acquiring an additional 81,005 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Nurix Therapeutics by 31.4% during the second quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock valued at $4,365,000 after purchasing an additional 49,918 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nurix Therapeutics by 762.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,207 shares of the company’s stock worth $317,000 after purchasing an additional 13,444 shares during the last quarter. RAM Investment Partners LLC purchased a new position in shares of Nurix Therapeutics in the second quarter worth $361,000. Finally, Rhumbline Advisers grew its holdings in Nurix Therapeutics by 14.2% in the 2nd quarter. Rhumbline Advisers now owns 88,781 shares of the company’s stock worth $1,853,000 after acquiring an additional 11,010 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.