Truist Lowers Nurix Therapeutics Target to $33, Keeps Buy Rating
Truist Financial cut its price target on Nurix Therapeutics to $33 from $34 while maintaining a buy rating. The new target implied approximately 48.9% upside from the previous close, and the consensus rating remained Moderate Buy with a $34.36 average target. Nurix beat quarterly earnings and revenue expectations but reported deeply negative margins, while insiders sold about $518,000 in shares over three months.
Truist trimmed its target by $1 while keeping a buy call. Other firms have varied: Morgan Stanley raised its target to $38 with overweight, Stifel lifted to $40 with buy, Needham reiterated buy at $34, and Wall Street Zen moved to hold. Thirteen analysts say buy, one hold, one sell.
Nurix recently posted quarterly EPS of $4.73 and revenue of $673.06 million, both above expectations, yet net margin was negative 928.44% and return on equity negative 76.09%. Shares opened at $22.16; market value was $2.30 billion. Insiders sold 21,372 shares, about $518,000, over three months.
Retail and institutional investors may react to the target cut, mixed analyst views, and insider sales, potentially affecting trading volatility and confidence. Employees and partners could feel indirect effects if stock-based compensation or financing conditions shift. The wider public may see limited direct impact, though biotech funding trends can influence future innovation.