Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives Average Rating of “Moderate Buy” from Analysts

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $34.0769.

A number of research analysts have weighed in on the company. BTIG Research reissued a “buy” rating and set a $32.00 price target on shares of Nurix Therapeutics in a research note on Friday, July 10th. HC Wainwright lifted their price objective on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Stifel Nicolaus upped their target price on Nurix Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price on shares of Nurix Therapeutics in a research report on Friday, July 10th. Finally, Mizuho raised their price target on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th.

Nurix Therapeutics Price Performance

NASDAQ:NRIX opened at $23.48 on Wednesday. The firm has a 50 day simple moving average of $19.37 and a 200-day simple moving average of $17.55. The firm has a market cap of $2.44 billion, a PE ratio of -6.81 and a beta of 1.80. Nurix Therapeutics has a 1-year low of $8.19 and a 1-year high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). The firm had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. As a group, sell-side analysts expect that Nurix Therapeutics will post -2.82 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Houte Hans Van sold 14,055 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the sale, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at approximately $624,027.20. This trade represents a 27.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the transaction, the insider directly owned 115,005 shares of the company’s stock, valued at $2,300,100. This trade represents a 4.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 25,051 shares of company stock worth $434,466. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC lifted its stake in shares of Nurix Therapeutics by 339.0% during the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after purchasing an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Nurix Therapeutics in the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nurix Therapeutics in the fourth quarter valued at about $33,000. KBC Group NV purchased a new stake in shares of Nurix Therapeutics during the 1st quarter valued at about $34,000. Finally, Wexford Capital LP acquired a new position in Nurix Therapeutics during the 3rd quarter worth approximately $41,000.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.