Nurix Therapeutics (NASDAQ:NRIX) Issues Quarterly Earnings Results, Beats Expectations By $5.33 EPS

Nurix Therapeutics (NASDAQ:NRIX) issued its quarterly earnings data on Monday. The company reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $5.33, Zacks reports. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.

Nurix Therapeutics Stock Down 0.9%

NASDAQ:NRIX traded down $0.19 during trading hours on Monday, hitting $22.16. 2,120,529 shares of the company traded hands, compared to its average volume of 1,467,864. The company has a market cap of $2.30 billion, a PE ratio of -6.42 and a beta of 1.82. The firm’s 50-day simple moving average is $25.24 and its 200-day simple moving average is $20.90. Nurix Therapeutics has a one year low of $9.00 and a one year high of $28.23.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NRIX shares. Royal Bank Of Canada raised their target price on Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 10th. BTIG Research reiterated a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research note on Friday, July 10th. Oppenheimer began coverage on Nurix Therapeutics in a report on Monday, June 29th. They issued an “outperform” rating and a $28.00 target price for the company. Wall Street Zen upgraded Nurix Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Finally, Truist Financial boosted their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Insider Activity at Nurix Therapeutics

In other news, CFO Hans van Houte sold 4,761 shares of the firm’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 sale, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at $978,443.76. This trade represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 4,356 shares of Nurix Therapeutics stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $25.00, for a total value of $108,900.00. Following the sale, the insider owned 117,227 shares in the company, valued at $2,930,675. The trade was a 3.58% decrease in their ownership of the stock. 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 ninety days, insiders sold 21,372 shares of company stock valued at $518,463. 6.70% of the stock is currently owned by corporate insiders.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.