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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given an average rating of “Moderate Buy” by the sixteen ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $29.50.

A number of research analysts have recently weighed in on the stock. Morgan Stanley set a $36.00 price target on shares of Nurix Therapeutics and gave the company an “overweight” rating in a report on Thursday, January 8th. Royal Bank Of Canada increased their target price on shares of Nurix Therapeutics from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Wells Fargo & Company cut their target price on Nurix Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. BTIG Research reiterated a “buy” rating and set a $30.00 price target on shares of Nurix Therapeutics in a research note on Thursday, January 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Thursday, January 22nd.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $15.60 on Friday. Nurix Therapeutics has a one year low of $8.18 and a one year high of $22.50. The stock’s 50 day moving average price is $18.32 and its 200 day moving average price is $13.70. The firm has a market capitalization of $1.60 billion, a PE ratio of -5.13 and a beta of 1.96.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.02. The business had revenue of $13.58 million for the quarter, compared to the consensus estimate of $13.41 million. Nurix Therapeutics had a negative net margin of 314.90% and a negative return on equity of 57.51%. On average, analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 4,895 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $81,257.00. Following the completion of the sale, the insider directly owned 83,672 shares of the company’s stock, valued at approximately $1,388,955.20. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Houte Hans Van sold 3,661 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $60,772.60. Following the completion of the transaction, the chief financial officer directly owned 45,427 shares of the company’s stock, valued at approximately $754,088.20. This trade represents a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.40% of the stock is owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently modified their holdings of the company. Morgan Stanley increased its holdings in shares of Nurix Therapeutics by 115.9% in the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after purchasing an additional 2,620,323 shares in the last quarter. Rubric Capital Management LP bought a new position in Nurix Therapeutics in the 4th quarter valued at $46,930,000. Pictet Asset Management Holding SA increased its stake in shares of Nurix Therapeutics by 75.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,467,600 shares of the company’s stock valued at $65,780,000 after buying an additional 1,487,060 shares during the period. Vestal Point Capital LP raised its position in shares of Nurix Therapeutics by 73.8% during the third quarter. Vestal Point Capital LP now owns 3,475,000 shares of the company’s stock worth $32,109,000 after acquiring an additional 1,475,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Nurix Therapeutics by 32.5% during the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock worth $112,862,000 after acquiring an additional 1,460,736 shares during the last quarter.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.