Fintel reports that on September 8, 2023, HC Wainwright & Co. maintained coverage of Nurix Therapeutics (NASDAQ:NRIX) with a Buy recommendation.
Analyst Price Forecast Suggests 209.52% Upside
As of August 31, 2023, the average one-year price target for Nurix Therapeutics is 27.80. The forecasts range from a low of 12.12 to a high of $36.75. The average price target represents an increase of 209.52% from its latest reported closing price of 8.98.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nurix Therapeutics is 60MM, a decrease of 1.30%. The projected annual non-GAAP EPS is -3.71.
What is the Fund Sentiment?
There are 316 funds or institutions reporting positions in Nurix Therapeutics. This is a decrease of 7 owner(s) or 2.17% in the last quarter. Average portfolio weight of all funds dedicated to NRIX is 0.06%, an increase of 14.04%. Total shares owned by institutions increased in the last three months by 2.96% to 47,851K shares. 
The put/call ratio of NRIX is 0.21, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 3,882K shares representing 8.05% ownership of the company. No change in the last quarter.
Wasatch Advisors holds 3,870K shares representing 8.03% ownership of the company. In it's prior filing, the firm reported owning 3,174K shares, representing an increase of 17.98%. The firm increased its portfolio allocation in NRIX by 33.39% over the last quarter.
Deep Track Capital holds 2,998K shares representing 6.22% ownership of the company. No change in the last quarter.
Redmile Group holds 2,857K shares representing 5.93% ownership of the company. In it's prior filing, the firm reported owning 2,749K shares, representing an increase of 3.78%. The firm increased its portfolio allocation in NRIX by 3.42% over the last quarter.
Price T Rowe Associates holds 2,380K shares representing 4.94% ownership of the company. In it's prior filing, the firm reported owning 2,585K shares, representing a decrease of 8.61%. The firm increased its portfolio allocation in NRIX by 117.53% 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.
Additional reading:
- Nurix Therapeutics Reports Second Quarter Fiscal 2023 Financial Results and Provides a Corporate Update Announced Phase 1b expansion cohorts for NX-2127 in non-Hodgkin’s lymphomas Presented data highlighting the potent cellular activity of both NX-59
- Nurix Therapeutics Reports First Quarter Fiscal 2023 Financial Results and Provides a Corporate Update Licensed to Gilead a new development candidate, NX-0479/GS-6791, a targeted protein degrader of IRAK4, resulting in a $20 million payment Expanded
- Nurix Therapeutics Reports Fourth Quarter and Fiscal Year 2022 Financial Results and Provides a Corporate Update Demonstrated NX-2127 overcomes BTK inhibitor resistance mutations and provides clinical benefit to patients with hematological malignanci
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