Nurix Therapeutics (NASDAQ:NRIX) Given New $27.00 Price Target at Royal Bank of Canada

Nurix Therapeutics (NASDAQ:NRIX) had its price objective lifted by Royal Bank of Canada from $26.00 to $27.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on NRIX. Stifel Nicolaus lifted their target price on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets began coverage on Nurix Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $35.00 price target for the company. UBS Group began coverage on Nurix Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Jefferies Financial Group began coverage on Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price target for the company. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.71.

Nurix Therapeutics Stock Up 0.5 %

Shares of NASDAQ NRIX opened at $19.65 on Wednesday. Nurix Therapeutics has a 1 year low of $7.79 and a 1 year high of $29.56. The stock’s 50-day simple moving average is $20.20 and its 200-day simple moving average is $22.42.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,546 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the completion of the sale, the chief financial officer now directly owns 33,724 shares in the company, valued at $818,818.72. This represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank lifted its position in shares of Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after acquiring an additional 511 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Nurix Therapeutics by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after acquiring an additional 559 shares during the last quarter. Quest Partners LLC lifted its position in shares of Nurix Therapeutics by 21.3% during the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after acquiring an additional 1,312 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Nurix Therapeutics by 8.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company’s stock valued at $675,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Nurix Therapeutics by 3,746.2% during the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after acquiring an additional 2,435 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.