Nurix Therapeutics (NASDAQ:NRIX) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $32.00 target price on the stock.

Several other equities analysts have also recently commented on NRIX. Wells Fargo & Company lowered their target price on shares of Nurix Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, January 29th. Morgan Stanley set a $36.00 price target on shares of Nurix Therapeutics and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Royal Bank Of Canada increased their price objective on shares of Nurix Therapeutics from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. BTIG Research reiterated a “buy” rating and set a $30.00 price objective on shares of Nurix Therapeutics in a research note on Thursday, January 29th. Finally, Truist Financial began coverage on Nurix Therapeutics in a report on Monday, November 24th. They set a “buy” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.54.

Nurix Therapeutics Stock Performance

NASDAQ:NRIX opened at $14.44 on Tuesday. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $22.50. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -4.75 and a beta of 1.96. The business has a fifty day moving average of $16.47 and a 200-day moving average of $14.76.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Wednesday, January 28th. The company reported ($0.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. The business had revenue of $13.58 million for the quarter, compared to analysts’ expectations 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, equities research analysts predict that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 4,895 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $81,257.00. Following the completion of the sale, the insider directly owned 83,672 shares in the company, valued at approximately $1,388,955.20. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 3,661 shares of Nurix Therapeutics stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $60,772.60. Following the completion of the transaction, the chief financial officer owned 45,427 shares in the company, valued at approximately $754,088.20. This trade represents a 7.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nurix Therapeutics by 11.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock valued at $593,000 after purchasing an additional 5,286 shares during the last quarter. Millennium Management LLC increased its stake in Nurix Therapeutics by 106.2% in the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock worth $10,388,000 after purchasing an additional 450,262 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Nurix Therapeutics by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock worth $6,029,000 after buying an additional 44,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Nurix Therapeutics by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock worth $1,895,000 after buying an additional 12,817 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Nurix Therapeutics by 9.1% during the second quarter. Geode Capital Management LLC now owns 1,881,960 shares of the company’s stock valued at $21,437,000 after buying an additional 157,592 shares in 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.