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

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

Several other equities research analysts also recently weighed in on the stock. Truist Financial increased their target price on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Robert W. Baird increased their price objective on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. HC Wainwright boosted their target price on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 10th. UBS Group increased their price target on Nurix Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Mizuho upped their price objective on Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nurix Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Nurix Therapeutics Stock Up 2.9%

Nurix Therapeutics stock opened at $23.67 on Friday. Nurix Therapeutics has a twelve month low of $8.85 and a twelve month high of $28.23. The company’s 50-day moving average price is $25.35 and its 200-day moving average price is $20.41. The company has a market cap of $2.46 billion, a PE ratio of -6.86 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data 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 company had revenue of $9.04 million for the quarter, compared to analysts’ expectations of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. As a group, sell-side analysts expect that Nurix Therapeutics will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 1,452 shares of Nurix Therapeutics stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $25.47, for a total transaction of $36,982.44. Following the completion of the sale, the insider directly owned 117,227 shares of the company’s stock, valued at $2,985,771.69. The trade was a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte 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 value of $115,977.96. Following the completion of the sale, the chief financial officer owned 40,166 shares of the company’s stock, valued at $978,443.76. This 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 sold 21,372 shares of company stock valued at $518,463 in the last quarter. 6.70% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently modified their holdings of NRIX. Nykredit A S purchased a new stake in Nurix Therapeutics during the 2nd quarter valued at about $32,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Nurix Therapeutics during the second quarter worth about $33,000. KBC Group NV purchased a new stake in Nurix Therapeutics in the first quarter valued at approximately $34,000. Avalon Trust Co acquired a new position in Nurix Therapeutics in the 2nd quarter worth approximately $64,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Nurix Therapeutics during the 4th quarter worth approximately $53,000.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the body’s natural protein-disposal systems to treat cancer and other serious diseases. The company’s approach centers on targeted protein modulation, including the use of small molecules to promote the degradation of disease-causing proteins or alter the activity of proteins involved in immune responses.

Nurix’s technology platform is built around E3 ligases, enzymes that help determine which proteins are marked for destruction inside cells.