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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given an average rating of “Moderate Buy” by the eighteen analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.6667.

A number of analysts have weighed in on the company. Morgan Stanley reduced their target price on Nurix Therapeutics from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $29.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, October 22nd. Stephens restated an “overweight” rating and issued a $30.00 target price on shares of Nurix Therapeutics in a research note on Thursday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of Nurix Therapeutics in a research report on Tuesday. Finally, Piper Sandler lowered their price target on Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, October 10th.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,284 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $12.56, for a total value of $78,927.04. Following the completion of the sale, the chief financial officer directly owned 37,592 shares in the company, valued at approximately $472,155.52. This represents a 14.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 4,087 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $12.80, for a total value of $52,313.60. Following the transaction, the insider directly owned 76,751 shares in the company, valued at $982,412.80. The trade was a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,501 shares of company stock valued at $171,305 over the last quarter. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in shares of Nurix Therapeutics by 118.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock worth $73,000 after purchasing an additional 3,475 shares during the period. Velan Capital Investment Management LP bought a new position in Nurix Therapeutics in the second quarter worth approximately $114,000. E Fund Management Co. Ltd. purchased a new stake in Nurix Therapeutics during the first quarter worth $122,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Nurix Therapeutics during the second quarter worth $141,000. Finally, Sei Investments Co. bought a new stake in Nurix Therapeutics during the 2nd quarter valued at $158,000.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $12.52 on Friday. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $29.56. The firm has a 50-day simple moving average of $9.96 and a two-hundred day simple moving average of $10.70. The company has a market cap of $962.54 million, a P/E ratio of -4.22 and a beta of 2.30.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.19). Nurix Therapeutics had a negative return on equity of 53.57% and a negative net margin of 292.50%.The business had revenue of $7.89 million during the quarter, compared to analysts’ expectations of $16.06 million. As a group, equities research analysts expect that Nurix Therapeutics will post -2.99 EPS for the current year.

Nurix Therapeutics Company Profile

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.