Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $28.14 Average PT from Analysts

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $27.7857.

A number of research firms have recently issued reports on NRIX. Stifel Nicolaus set a $33.00 target price on Nurix Therapeutics in a report on Friday, October 10th. Piper Sandler dropped their price objective on Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Baird R W upgraded Nurix Therapeutics to a “strong-buy” rating in a research report on Tuesday, August 26th. Stephens reiterated an “overweight” rating and set a $30.00 target price on shares of Nurix Therapeutics in a research report on Thursday, July 10th. Finally, Wall Street Zen downgraded Nurix Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 11th.

Nurix Therapeutics Trading Up 12.7%

Shares of NASDAQ NRIX opened at $10.35 on Monday. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $29.56. The stock has a 50 day moving average of $9.46 and a two-hundred day moving average of $10.53. The stock has a market cap of $795.71 million, a P/E ratio of -3.48 and a beta of 2.33.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Thursday, October 9th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. The firm had revenue of $7.89 million during the quarter, compared to analysts’ expectations of $16.06 million. As a group, research analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Activity

In related news, CFO Houte Hans Van sold 5,402 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $11.03, for a total transaction of $59,584.06. Following the transaction, the chief financial officer directly owned 35,512 shares in the company, valued at approximately $391,697.36. This represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 4,308 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total value of $51,739.08. Following the transaction, the insider owned 69,023 shares in the company, valued at $828,966.23. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,014 shares of company stock worth $163,014 over the last quarter. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of Nurix Therapeutics by 118.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after buying an additional 3,475 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Nurix Therapeutics by 38.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company’s stock worth $109,000 after buying an additional 2,562 shares during the last quarter. Velan Capital Investment Management LP bought a new position in Nurix Therapeutics during the 2nd quarter worth approximately $114,000. E Fund Management Co. Ltd. bought a new stake in shares of Nurix Therapeutics in the 1st quarter worth approximately $122,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Nurix Therapeutics in the 2nd quarter worth approximately $141,000.

Nurix Therapeutics Company Profile

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.