Nurix Therapeutics (NASDAQ:NRIX) Given New $26.00 Price Target at Royal Bank of Canada

Nurix Therapeutics (NASDAQ:NRIX) had its price target decreased by Royal Bank of Canada from $27.00 to $26.00 in a report released on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Needham & Company LLC reissued a buy rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research note on Monday. Stephens reissued an overweight rating and set a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday. Barclays lifted their price target on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an overweight rating in a research note on Monday, July 15th. Jefferies Financial Group started coverage on Nurix Therapeutics in a research note on Friday. They issued a buy rating and a $41.00 target price for the company. Finally, Robert W. Baird started coverage on Nurix Therapeutics in a research note on Friday, September 6th. They set an outperform rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $28.71.

Nurix Therapeutics Stock Performance

NASDAQ:NRIX opened at $25.16 on Monday. Nurix Therapeutics has a fifty-two week low of $4.22 and a fifty-two week high of $26.31. The company has a 50 day simple moving average of $23.36 and a two-hundred day simple moving average of $19.35. The company has a market capitalization of $1.24 billion, a PE ratio of -8.62 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The business had revenue of $12.59 million during the quarter, compared to the consensus estimate of $13.85 million. Research analysts predict that Nurix Therapeutics will post -2.95 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,490 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at approximately $1,126,080.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.43, for a total value of $123,436.80. Following the completion of the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $527,006.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,815 shares of company stock worth $1,424,931. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in Nurix Therapeutics by 576.7% in the first quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock valued at $2,355,000 after acquiring an additional 136,606 shares during the last quarter. SG Americas Securities LLC lifted its stake in Nurix Therapeutics by 365.0% in the second quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock valued at $2,154,000 after purchasing an additional 81,005 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Nurix Therapeutics by 80.7% during the second quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock valued at $6,762,000 after purchasing an additional 144,700 shares during the period. TD Asset Management Inc purchased a new stake in Nurix Therapeutics in the second quarter worth $593,000. Finally, Candriam S.C.A. raised its stake in shares of Nurix Therapeutics by 30.5% in the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after buying an additional 272,136 shares during the period.

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.