Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $30.44.

Several analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. HC Wainwright restated a “buy” rating and set a $36.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Leerink Partners started coverage on shares of Nurix Therapeutics in a report on Monday, March 17th. They issued a “market perform” rating and a $16.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Finally, Morgan Stanley upped their target price on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd.

Nurix Therapeutics Stock Up 4.5 %

NRIX opened at $10.24 on Monday. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $29.56. The company has a fifty day moving average of $13.19 and a 200-day moving average of $18.73. The stock has a market cap of $780.66 million, a PE ratio of -3.54 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The firm had revenue of $18.45 million during the quarter, compared to the consensus estimate of $12.78 million. During the same period last year, the business posted ($0.76) EPS. Sell-side analysts anticipate that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Gwenn Hansen sold 3,690 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the transaction, the insider now directly owns 55,937 shares in the company, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the transaction, the chief financial officer now owns 39,549 shares in the company, valued at approximately $785,047.65. The trade was a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock worth $213,449 in the last three months. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NRIX. US Bancorp DE raised its holdings in Nurix Therapeutics by 144.7% in the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock worth $27,000 after acquiring an additional 842 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Nurix Therapeutics during the fourth quarter valued at $28,000. Aquatic Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at $87,000. Exchange Traded Concepts LLC increased its holdings in Nurix Therapeutics by 38.9% in 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 in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Nurix Therapeutics by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock worth $138,000 after buying an additional 877 shares during the last quarter.

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.