Royal Bank of Canada Boosts Nurix Therapeutics (NASDAQ:NRIX) Price Target to $26.00

Nurix Therapeutics (NASDAQ:NRIX) had its price target raised by Royal Bank of Canada from $23.00 to $26.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 25.24% from the company’s current price.

NRIX has been the topic of a number of other research reports. Robert W. Baird raised their target price on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on Nurix Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Needham & Company LLC restated a “buy” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a report on Monday, June 17th. Piper Sandler restated an “overweight” rating and set a $35.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. Finally, Stephens initiated coverage on Nurix Therapeutics in a report on Tuesday, May 14th. They issued an “overweight” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.10.

Nurix Therapeutics Stock Up 1.5 %

NASDAQ:NRIX traded up $0.30 on Thursday, hitting $20.76. The stock had a trading volume of 37,017 shares, compared to its average volume of 979,468. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -7.80 and a beta of 2.17. The business’s 50-day simple moving average is $15.52 and its two-hundred day simple moving average is $12.69. Nurix Therapeutics has a 52-week low of $4.22 and a 52-week high of $22.44.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.04. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The company had revenue of $16.59 million for the quarter, compared to analysts’ expectations of $14.58 million. As a group, equities research analysts anticipate that Nurix Therapeutics will post -2.85 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in Nurix Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock worth $176,000 after buying an additional 998 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Nurix Therapeutics by 3.7% in the first quarter. Public Employees Retirement System of Ohio now owns 50,838 shares of the company’s stock valued at $747,000 after acquiring an additional 1,820 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Nurix Therapeutics by 3.1% in the fourth quarter. Raymond James & Associates now owns 101,006 shares of the company’s stock worth $1,042,000 after acquiring an additional 3,018 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Nurix Therapeutics by 67.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock worth $138,000 after purchasing an additional 3,793 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Nurix Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock worth $163,000 after purchasing an additional 4,012 shares in 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.