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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been assigned an average rating of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $29.0714.

Several brokerages recently commented on NRIX. UBS Group dropped their price target on shares of Nurix Therapeutics from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, July 10th. HC Wainwright cut their target price on Nurix Therapeutics from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, July 14th. Oppenheimer reiterated an “outperform” rating and issued a $30.00 target price (down previously from $32.00) on shares of Nurix Therapeutics in a report on Thursday, July 31st. Stephens reissued an “overweight” rating and set a $30.00 price target on shares of Nurix Therapeutics in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Nurix Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 21st.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 4,308 shares of Nurix Therapeutics stock in a transaction 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 transaction, the insider owned 69,023 shares in the company, valued at approximately $828,966.23. The trade was a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Houte Hans Van sold 5,402 shares of the firm’s stock in a transaction dated 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 directly owned 35,512 shares in the company, valued at $391,697.36. This trade represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,014 shares of company stock valued at $163,014. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics in the 4th quarter worth $28,000. Tower Research Capital LLC TRC increased its position in shares of 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 acquiring an additional 3,475 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Nurix Therapeutics by 38.9% in the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company’s stock worth $109,000 after acquiring an additional 2,562 shares in the last quarter. Velan Capital Investment Management LP purchased a new position in Nurix Therapeutics in the second quarter valued at about $114,000. Finally, E Fund Management Co. Ltd. purchased a new position in Nurix Therapeutics in the first quarter valued at about $122,000.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX opened at $8.57 on Thursday. The firm has a market cap of $655.18 million, a P/E ratio of -3.28 and a beta of 2.10. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $29.56. The firm’s 50 day moving average price is $10.42 and its 200 day moving average price is $11.11.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $44.06 million during the quarter, compared to the consensus estimate of $16.26 million. As a group, equities analysts predict that Nurix Therapeutics will post -2.99 EPS for the current 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.