Stephens Begins Coverage on Nurix Therapeutics (NASDAQ:NRIX)

Stephens initiated coverage on shares of Nurix Therapeutics (NASDAQ:NRIXFree Report) in a research note published on Tuesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $20.00 price target on the stock.

NRIX has been the subject of several other research reports. Morgan Stanley lifted their price objective on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an equal weight rating in a research note on Monday, February 26th. Robert W. Baird raised their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Wells Fargo & Company dropped their price target on Nurix Therapeutics from $23.00 to $20.00 and set an overweight rating on the stock in a research note on Friday, February 16th. Needham & Company LLC reissued a buy rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada increased their target price on Nurix Therapeutics from $22.00 to $23.00 and gave the stock an outperform rating in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics has a consensus rating of Moderate Buy and a consensus price target of $21.88.

Read Our Latest Stock Analysis on Nurix Therapeutics

Nurix Therapeutics Stock Up 7.7 %

Shares of NASDAQ NRIX opened at $16.59 on Tuesday. The company has a market capitalization of $815.40 million, a PE ratio of -6.24 and a beta of 2.10. The firm has a fifty day simple moving average of $14.12 and a 200 day simple moving average of $10.59. Nurix Therapeutics has a twelve month low of $4.22 and a twelve month high of $18.12.

Nurix Therapeutics (NASDAQ:NRIXGet Free Report) last announced its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.04. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The company had revenue of $16.59 million for the quarter, compared to the consensus estimate of $14.58 million. As a group, equities analysts expect that Nurix Therapeutics will post -3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at approximately $876,712.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 6,893 shares of company stock valued at $85,756. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors have recently bought and sold shares of NRIX. China Universal Asset Management Co. Ltd. raised its stake in shares of Nurix Therapeutics by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after buying an additional 4,367 shares during the period. Quest Partners LLC purchased a new position in shares of Nurix Therapeutics in the fourth quarter worth about $59,000. EntryPoint Capital LLC bought a new stake in shares of Nurix Therapeutics in the first quarter valued at approximately $123,000. ProShare Advisors LLC lifted its stake in shares of Nurix Therapeutics by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock valued at $176,000 after buying an additional 998 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Nurix Therapeutics in the 4th quarter valued at approximately $1,175,000.

Nurix Therapeutics Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Nurix Therapeutics (NASDAQ:NRIX)

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