Robert W. Baird Issues Positive Forecast for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Nurix Therapeutics (NASDAQ:NRIX) had its target price hoisted by research analysts at Robert W. Baird from $33.00 to $36.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 62.45% from the stock’s previous close.

Several other research analysts have also weighed in on NRIX. Stifel Nicolaus lifted their price objective on Nurix Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Royal Bank Of Canada upped their target price on Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Mizuho raised their target price on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. UBS Group lifted their target price on Nurix Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Morgan Stanley lifted their target price on Nurix Therapeutics from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $34.43.

Nurix Therapeutics Stock Down 0.9%

Shares of NASDAQ NRIX opened at $22.16 on Tuesday. The company has a market capitalization of $2.30 billion, a PE ratio of -6.42 and a beta of 1.82. Nurix Therapeutics has a twelve month low of $9.00 and a twelve month high of $28.23. The firm has a fifty day simple moving average of $25.22 and a 200 day simple moving average of $20.96.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Tuesday, October 13th. The company reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $5.33. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The business had revenue of $673.06 million for the quarter, compared to analysts’ expectations of $24.35 million. As a group, equities analysts expect that Nurix Therapeutics will post -2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gwenn Hansen sold 4,356 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $25.00, for a total value of $108,900.00. Following the sale, the insider owned 117,227 shares in the company, valued at $2,930,675. This represents a 3.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the transaction, the chief financial officer directly owned 40,166 shares in the company, valued at approximately $978,443.76. The trade was a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,372 shares of company stock worth $518,463 over the last ninety days. Insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRIX. GAMMA Investing LLC lifted its holdings in shares of Nurix Therapeutics by 95.4% in the third quarter. GAMMA Investing LLC now owns 1,270 shares of the company’s stock valued at $30,000 after purchasing an additional 620 shares in the last quarter. Nykredit A S purchased a new position in shares of Nurix Therapeutics during the second quarter valued at approximately $32,000. Integrated Wealth Concepts LLC purchased a new position in shares of Nurix Therapeutics during the second quarter valued at approximately $33,000. KBC Group NV bought a new stake in Nurix Therapeutics during the first quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Nurix Therapeutics during the fourth quarter worth $53,000.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.