JPMorgan Chase & Co. Increases Nurix Therapeutics (NASDAQ:NRIX) Price Target to $31.00

Nurix Therapeutics (NASDAQ:NRIX) had its price target hoisted by JPMorgan Chase & Co. from $30.00 to $31.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley lifted 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. Stephens began coverage on shares of Nurix Therapeutics in a research note on Tuesday, May 14th. They issued an overweight rating and a $20.00 price objective for the company. Piper Sandler restated an overweight rating and issued a $35.00 price target on shares of Nurix Therapeutics in a report on Wednesday, June 5th. Robert W. Baird lifted their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Finally, Needham & Company LLC reissued a buy rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $24.80.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $20.97 on Monday. The company has a market capitalization of $1.03 billion, a P/E ratio of -7.88 and a beta of 2.17. Nurix Therapeutics has a 1-year low of $4.22 and a 1-year high of $21.16. The firm’s 50 day simple moving average is $14.99 and its two-hundred day simple moving average is $12.24.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The company had revenue of $16.59 million for the quarter, compared to analysts’ expectations of $14.58 million. On average, sell-side analysts anticipate that Nurix Therapeutics will post -3 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 1,900 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $17.01, for a total transaction of $32,319.00. Following the completion of the sale, the insider now directly owns 19,838 shares of the company’s stock, valued at $337,444.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Houte Hans Van sold 3,499 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the transaction, the chief financial officer now directly owns 68,333 shares in the company, valued at approximately $876,712.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christine Ring sold 1,900 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $17.01, for a total value of $32,319.00. Following the transaction, the insider now directly owns 19,838 shares in the company, valued at $337,444.38. The disclosure for this sale can be found here. In the last three months, insiders sold 10,789 shares of company stock valued at $152,023. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of Nurix Therapeutics by 351.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after buying an additional 4,367 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Nurix Therapeutics in the fourth quarter valued at about $59,000. EntryPoint Capital LLC purchased a new position in shares of Nurix Therapeutics in the first quarter worth about $123,000. Jump Financial LLC acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $158,000. Finally, Exchange Traded Concepts LLC boosted its position in Nurix Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock valued at $163,000 after buying an additional 4,012 shares during 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.