$10.09 Million in Sales Expected for Nurix Therapeutics, Inc. (NASDAQ:NRIX) This Quarter

Wall Street brokerages expect that Nurix Therapeutics, Inc. (NASDAQ:NRIXGet Rating) will report $10.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Nurix Therapeutics’ earnings. The highest sales estimate is $11.54 million and the lowest is $8.00 million. Nurix Therapeutics posted sales of $7.09 million during the same quarter last year, which suggests a positive year over year growth rate of 42.3%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Nurix Therapeutics will report full-year sales of $50.48 million for the current fiscal year, with estimates ranging from $33.62 million to $72.16 million. For the next year, analysts anticipate that the company will report sales of $73.56 million, with estimates ranging from $43.20 million to $108.12 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Nurix Therapeutics.

Nurix Therapeutics (NASDAQ:NRIXGet Rating) last posted its quarterly earnings results on Thursday, April 7th. The company reported ($0.95) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.07). Nurix Therapeutics had a negative net margin of 394.21% and a negative return on equity of 38.11%.

Several research firms have weighed in on NRIX. Royal Bank of Canada dropped their price target on Nurix Therapeutics from $42.00 to $39.00 and set an “outperform” rating on the stock in a research note on Monday, April 18th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, January 5th. Zacks Investment Research upgraded Nurix Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 9th. HC Wainwright lowered their target price on Nurix Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, April 14th. Finally, Robert W. Baird lowered their target price on Nurix Therapeutics from $49.00 to $41.00 in a research note on Friday, January 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $46.17.

Nurix Therapeutics stock opened at $11.96 on Tuesday. The company’s 50-day moving average price is $13.80. The stock has a market cap of $537.60 million, a P/E ratio of -3.92 and a beta of 2.74. Nurix Therapeutics has a fifty-two week low of $10.72 and a fifty-two week high of $37.42.

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nurix Therapeutics by 26.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,118 shares of the company’s stock worth $72,000 after purchasing an additional 1,071 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Nurix Therapeutics during the fourth quarter worth approximately $117,000. Ensign Peak Advisors Inc boosted its position in Nurix Therapeutics by 512.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 4,890 shares of the company’s stock worth $142,000 after purchasing an additional 4,091 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Nurix Therapeutics during the fourth quarter worth approximately $178,000. Finally, Grace Capital boosted its position in Nurix Therapeutics by 47.2% during the third quarter. Grace Capital now owns 6,727 shares of the company’s stock worth $190,000 after purchasing an additional 2,158 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Nurix Therapeutics Company Profile (Get Rating)

Nurix Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapies for the treatment of cancer and immune disorders. The company develops NX-2127, an orally available 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 available Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.

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