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

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

Several other brokerages also recently commented on NRIX. UBS Group boosted their price objective on Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. BTIG Research reiterated a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a research report on Friday, July 10th. Oppenheimer lifted their target price on Nurix Therapeutics from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. Truist Financial decreased their target price on Nurix Therapeutics from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. Finally, Robert W. Baird boosted their price target on Nurix Therapeutics from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Nurix Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $34.79.

Nurix Therapeutics Stock Performance

Shares of Nurix Therapeutics stock opened at $24.93 on Friday. The company has a market capitalization of $2.72 billion, a P/E ratio of 10.79 and a beta of 1.82. The company has a fifty day moving average of $25.09 and a 200 day moving average of $21.27. Nurix Therapeutics has a fifty-two week low of $9.93 and a fifty-two week high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Monday, October 12th. The company reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $5.33. The business had revenue of $673.06 million during the quarter, compared to analyst estimates of $24.35 million. Nurix Therapeutics had a return on equity of 49.34% and a net margin of 42.01%. Analysts forecast that Nurix Therapeutics will post 1.15 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 1,452 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $25.00, for a total value of $36,300.00. Following the sale, the insider directly owned 117,227 shares in the company, valued at approximately $2,930,675. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Gregory sold 22,583 shares of the business’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $23.40, for a total value of $528,442.20. Following the completion of the sale, the director owned 10,750 shares in the company, valued at $251,550. This represents a 67.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 45,407 shares of company stock valued at $1,083,206. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in NRIX. GAMMA Investing LLC boosted its position in shares of Nurix Therapeutics by 95.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,270 shares of the company’s stock valued at $30,000 after acquiring an additional 620 shares during the last quarter. Nykredit A S purchased a new position in shares of Nurix Therapeutics in the second quarter valued at $32,000. Integrated Wealth Concepts LLC purchased a new position in shares of Nurix Therapeutics in the second quarter valued at $33,000. KBC Group NV purchased a new position in shares of Nurix Therapeutics in the first quarter valued at $34,000. Finally, Avalon Trust Co bought a new stake in Nurix Therapeutics in the second quarter worth $64,000.

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.