JPMorgan Chase & Co. Issues Pessimistic Forecast for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

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

Several other research analysts have also issued reports on NRIX. BTIG Research initiated coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 target price on the stock. HC Wainwright increased their target price on shares of Nurix Therapeutics from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada cut their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group began coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, Stephens reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Nurix Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $30.71.

Nurix Therapeutics Trading Up 0.5 %

NRIX opened at $19.65 on Wednesday. Nurix Therapeutics has a twelve month low of $7.79 and a twelve month high of $29.56. The company has a fifty day moving average of $20.20 and a 200-day moving average of $22.42.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. As a group, analysts forecast that Nurix Therapeutics will post -2.81 EPS for the current year.

Insider Buying and Selling

In other news, CFO Houte Hans Van sold 3,546 shares of Nurix Therapeutics stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $24.28, for a total value of $86,096.88. Following the completion of the transaction, the chief financial officer now owns 33,724 shares in the company, valued at $818,818.72. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several large investors have recently modified their holdings of the business. Amalgamated Bank increased its stake in shares of Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after purchasing an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after purchasing an additional 559 shares in the last quarter. Quest Partners LLC increased its stake in shares of Nurix Therapeutics by 21.3% in the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock worth $168,000 after purchasing an additional 1,312 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Nurix Therapeutics by 8.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company’s stock worth $675,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after purchasing an additional 2,435 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.