Nurix Therapeutics (NASDAQ:NRIX) Stock Rating Upgraded by Baird R W

Nurix Therapeutics (NASDAQ:NRIX) was upgraded by equities research analysts at Baird R W to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on NRIX. Morgan Stanley set a $16.00 price target on shares of Nurix Therapeutics and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. HC Wainwright lowered their price objective on shares of Nurix Therapeutics from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, July 14th. Stephens reissued an “overweight” rating and issued a $30.00 price objective on shares of Nurix Therapeutics in a research note on Thursday, July 10th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Finally, UBS Group lowered their price objective on shares of Nurix Therapeutics from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.87.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $9.55 on Tuesday. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56. The stock has a market cap of $730.10 million, a PE ratio of -3.66 and a beta of 2.14. The firm has a 50-day simple moving average of $11.28 and a two-hundred day simple moving average of $11.92.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.27. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. The business had revenue of $44,056 billion during the quarter, compared to analysts’ expectations of $16.26 million. As a group, sell-side analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 5,402 shares of Nurix Therapeutics stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $11.03, for a total value of $59,584.06. Following the completion of the transaction, the chief financial officer owned 35,512 shares in the company, valued at $391,697.36. The trade was a 13.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $12.01, for a total transaction of $51,739.08. Following the completion of the transaction, the insider owned 69,023 shares of the company’s stock, valued at $828,966.23. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,014 shares of company stock valued at $163,014 in the last quarter. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in Nurix Therapeutics in the fourth quarter worth approximately $28,000. Tower Research Capital LLC TRC lifted its stake in Nurix Therapeutics by 118.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock worth $73,000 after acquiring an additional 3,475 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Nurix Therapeutics in the fourth quarter worth approximately $87,000. Exchange Traded Concepts LLC lifted its position in shares of 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. Finally, Velan Capital Investment Management LP purchased a new stake in shares of Nurix Therapeutics during the 2nd quarter worth approximately $114,000.

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.