Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $29.07 Average PT from Brokerages

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $29.0714.

NRIX has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $30.00 price objective (down previously from $32.00) on shares of Nurix Therapeutics in a report on Thursday, July 31st. Morgan Stanley set a $16.00 price target on shares of Nurix Therapeutics and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. UBS Group reduced their price target on shares of Nurix Therapeutics from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, July 10th. Baird R W upgraded Nurix Therapeutics to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen raised Nurix Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st.

Insider Activity

In related news, CFO Houte Hans Van sold 5,402 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $11.03, for a total transaction of $59,584.06. Following the completion of the transaction, the chief financial officer owned 35,512 shares of the company’s stock, valued at approximately $391,697.36. This trade represents a 13.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 4,308 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total transaction of $51,739.08. Following the completion of the sale, the insider owned 69,023 shares of the company’s stock, valued at $828,966.23. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,014 shares of company stock valued at $163,014. 7.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently modified their holdings of NRIX. GF Fund Management CO. LTD. purchased a new stake in shares of Nurix Therapeutics in the 4th quarter valued at $28,000. Tower Research Capital LLC TRC increased its stake in Nurix Therapeutics by 118.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock worth $73,000 after purchasing an additional 3,475 shares during the period. BNP Paribas Financial Markets purchased a new stake in Nurix Therapeutics during the fourth quarter worth about $164,000. Exchange Traded Concepts LLC lifted its position in shares of Nurix Therapeutics by 38.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company’s stock worth $109,000 after purchasing an additional 2,562 shares in the last quarter. Finally, Velan Capital Investment Management LP purchased a new position in shares of Nurix Therapeutics in the second quarter valued at approximately $114,000.

Nurix Therapeutics Stock Performance

Shares of Nurix Therapeutics stock opened at $8.43 on Thursday. The business’s 50 day moving average price is $10.18 and its 200 day moving average price is $10.96. The company has a market cap of $644.47 million, a price-to-earnings ratio of -3.23 and a beta of 2.10. Nurix Therapeutics has a one year low of $8.18 and a one year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.27. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%.The company had revenue of $44.06 million during the quarter, compared to analysts’ expectations of $16.26 million. On average, analysts predict that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

About Nurix Therapeutics

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.