Wells Fargo & Company Cuts Nurix Therapeutics (NASDAQ:NRIX) Price Target to $25.00

Nurix Therapeutics (NASDAQ:NRIX) had its target price cut by Wells Fargo & Company from $32.00 to $25.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently issued reports on NRIX. Leerink Partnrs raised shares of Nurix Therapeutics to a “hold” rating in a report on Monday, March 17th. Stephens reiterated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their target price on Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Stifel Nicolaus reduced their price objective on Nurix Therapeutics from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Leerink Partners began coverage on Nurix Therapeutics in a report on Monday, March 17th. They issued a “market perform” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $30.44.

Nurix Therapeutics Trading Down 13.0 %

NRIX traded down $1.25 on Wednesday, reaching $8.35. The stock had a trading volume of 615,269 shares, compared to its average volume of 917,366. The business’s 50-day moving average price is $14.42 and its two-hundred day moving average price is $19.39. Nurix Therapeutics has a 12-month low of $8.19 and a 12-month high of $29.56. The company has a market cap of $636.65 million, a P/E ratio of -2.89 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. The company had revenue of $18.45 million for the quarter, compared to the consensus estimate of $12.78 million. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. During the same quarter in the prior year, the business posted ($0.76) earnings per share. As a group, analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Activity

In other news, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Houte Hans Van sold 5,825 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.49, for a total value of $84,404.25. Following the sale, the chief financial officer now owns 33,724 shares of the company’s stock, valued at $488,660.76. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,326 shares of company stock worth $213,449. 9.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE increased its position in Nurix Therapeutics by 144.7% during the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock worth $27,000 after purchasing an additional 842 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Nurix Therapeutics in the fourth quarter valued at $28,000. Aquatic Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the 4th quarter worth $87,000. Summit Investment Advisors Inc. grew its stake in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock worth $138,000 after purchasing an additional 877 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at about $164,000.

Nurix Therapeutics Company Profile

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.