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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $29.50.

NRIX has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Mizuho boosted their price target on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. HC Wainwright upped their price objective on shares of Nurix Therapeutics from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Piper Sandler raised their price objective on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Finally, Morgan Stanley set a $36.00 target price on shares of Nurix Therapeutics and gave the company an “overweight” rating in a research note on Thursday, January 8th.

Nurix Therapeutics Price Performance

Shares of NRIX stock opened at $15.95 on Thursday. The stock’s fifty day simple moving average is $17.09 and its 200 day simple moving average is $14.37. Nurix Therapeutics has a one year low of $8.18 and a one year high of $22.50. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -5.25 and a beta of 1.96.

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

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,661 shares of the business’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 transaction, the chief financial officer owned 45,427 shares of the company’s stock, valued at approximately $754,088.20. The trade was a 7.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 4,895 shares of the stock in a transaction 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 sale, the insider owned 83,672 shares in the company, valued at $1,388,955.20. The trade was a 5.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRIX. Larson Financial Group LLC grew its holdings in Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after acquiring an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management bought a new position in shares of Nurix Therapeutics in the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Nurix Therapeutics in the fourth quarter worth about $33,000. Wexford Capital LP acquired a new position in shares of Nurix Therapeutics during the third quarter worth approximately $41,000. Finally, Tower Research Capital LLC TRC lifted 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 purchasing an additional 3,475 shares in the last quarter.

About Nurix Therapeutics

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.