JPMorgan Chase & Co. Cuts Nurix Therapeutics (NASDAQ:NRIX) Price Target to $30.00

Nurix Therapeutics (NASDAQ:NRIX) had its price objective dropped by JPMorgan Chase & Co. from $31.00 to $30.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 49.93% from the company’s previous close.

NRIX has been the topic of several other reports. Royal Bank of Canada lowered their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. HC Wainwright lifted their price objective on shares of Nurix Therapeutics from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC dropped their target price on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics in a report on Friday, October 11th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Stephens reaffirmed an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.71.

Nurix Therapeutics Stock Up 1.8 %

Shares of NASDAQ NRIX opened at $20.01 on Wednesday. The company has a market capitalization of $1.42 billion, a PE ratio of -6.88 and a beta of 2.14. Nurix Therapeutics has a twelve month low of $7.79 and a twelve month high of $29.56. The firm has a fifty day simple moving average of $20.14 and a 200 day simple moving average of $22.40.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) EPS 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, equities analysts expect 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 2,811 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at $785,047.65. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the transaction, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors have recently made changes to their positions in the stock. Amalgamated Bank lifted its position in shares of Nurix Therapeutics by 30.6% in the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after purchasing an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Nurix Therapeutics by 31.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after acquiring an additional 559 shares in the last quarter. Quarry LP lifted its stake in shares of Nurix Therapeutics by 3,746.2% in the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after purchasing an additional 2,435 shares during the period. International Assets Investment Management LLC boosted its position in shares of Nurix Therapeutics by 1,098.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after purchasing an additional 4,119 shares in the last quarter. Finally, Quest Partners LLC grew its stake in Nurix Therapeutics by 21.3% during 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 during the period.

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.