Nurix Therapeutics shares reached a new 52-week high on Tuesday.
Royal Bank of Canada increased its price target for the stock to $36 from $33. The firm maintained an outperform rating. Shares traded as high as $26.04 following the update.
The rally occurred despite Nurix reporting a quarterly loss of $0.81 per share. This result was wider than the consensus estimate of a $0.73 loss. Quarterly revenue also fell short of analyst expectations.
Overall analyst sentiment remains positive with a consensus Moderate Buy rating. The average price target for the stock is $34.21.