Fintel reports that on December 6, 2024, BMO Capital initiated coverage of Nurix Therapeutics (NasdaqGM:NRIX) with a Outperform recommendation.
Analyst Price Forecast Suggests 59.85% Upside
As of December 3, 2024, the average one-year price target for Nurix Therapeutics is $32.07/share. The forecasts range from a low of $16.16 to a high of $43.05. The average price target represents an increase of 59.85% from its latest reported closing price of $20.06 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nurix Therapeutics is 91MM, an increase of 61.73%. The projected annual non-GAAP EPS is -4.36.
What is the Fund Sentiment?
There are 422 funds or institutions reporting positions in Nurix Therapeutics. This is an increase of 32 owner(s) or 8.21% in the last quarter. Average portfolio weight of all funds dedicated to NRIX is 0.15%, an increase of 17.00%. Total shares owned by institutions increased in the last three months by 8.76% to 77,250K shares. 
The put/call ratio of NRIX is 0.25, indicating a bullish outlook.
What are Other Shareholders Doing?
Redmile Group holds 4,281K shares representing 6.04% ownership of the company. In its prior filing, the firm reported owning 4,424K shares , representing a decrease of 3.33%. The firm increased its portfolio allocation in NRIX by 1.53% over the last quarter.
Baker Bros. Advisors holds 3,882K shares representing 5.48% ownership of the company. No change in the last quarter.
Deep Track Capital holds 3,868K shares representing 5.46% ownership of the company. In its prior filing, the firm reported owning 3,992K shares , representing a decrease of 3.19%. The firm increased its portfolio allocation in NRIX by 10.88% over the last quarter.
Wellington Management Group Llp holds 3,482K shares representing 4.92% ownership of the company. In its prior filing, the firm reported owning 3,202K shares , representing an increase of 8.05%. The firm decreased its portfolio allocation in NRIX by 83.89% over the last quarter.
Price T Rowe Associates holds 3,069K shares representing 4.33% ownership of the company. In its prior filing, the firm reported owning 2,835K shares , representing an increase of 7.62%. The firm decreased its portfolio allocation in NRIX by 44.01% over the last quarter.
Nurix Therapeutics Background Information
(This description is provided by the company.)
Nurix Therapeutics is a biopharmaceutical company focused on the discovery, development, and commercialization of small molecule therapies designed to modulate cellular protein levels as a novel treatment approach for cancer and other challenging diseases. Leveraging Nurix’s extensive expertise in E3 ligases together with its proprietary DNA-encoded libraries, Nurix has built DELigase, an integrated discovery platform to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. Nurix’s drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin proteasome system to selectively decrease or increase cellular protein levels. Nurix’s wholly owned pipeline includes targeted protein degraders of Bruton’s tyrosine kinase, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an E3 ligase that regulates T cell activation. Nurix is headquartered in San Francisco, California.
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