Nurix Therapeutics (NASDAQ:NRIX) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Nurix Therapeutics (NASDAQ:NRIX) from a sell rating to a hold rating in a report released on Saturday morning.

Several other analysts also recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Mizuho raised their target price on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Oppenheimer initiated coverage on Nurix Therapeutics in a report on Monday, June 29th. They set an “outperform” rating and a $28.00 price target on the stock. Jefferies Financial Group upped their price target on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, Morgan Stanley increased their price objective on Nurix Therapeutics from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $25.53 on Friday. The firm’s 50 day simple moving average is $21.26 and its 200-day simple moving average is $18.06. The company has a market cap of $2.65 billion, a P/E ratio of -7.40 and a beta of 1.79. Nurix Therapeutics has a fifty-two week low of $8.19 and a fifty-two week high of $25.89.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly 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 net margin of 928.44% and a negative return on equity of 76.09%. On average, analysts expect that Nurix Therapeutics will post -2.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 4,356 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $25.00, for a total transaction of $108,900.00. Following the transaction, the insider directly owned 117,227 shares in the company, valued at $2,930,675. The trade was a 3.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the transaction, the chief financial officer directly owned 40,166 shares in the company, valued at $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,314 shares of company stock valued at $589,361 in the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Nurix Therapeutics by 11.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock worth $593,000 after purchasing an additional 5,286 shares in the last quarter. Millennium Management LLC grew its stake in shares of Nurix Therapeutics by 106.2% in the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock valued at $10,388,000 after buying an additional 450,262 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Nurix Therapeutics by 9.5% in the first quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock worth $6,029,000 after buying an additional 44,002 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Nurix Therapeutics by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock worth $1,895,000 after buying an additional 12,817 shares during the last quarter. Finally, Creative Planning bought a new position in Nurix Therapeutics during the second quarter valued at approximately $187,000.

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.