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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $30.5385.

Several research analysts have issued reports on NRIX shares. Royal Bank Of Canada increased their price objective on Nurix Therapeutics from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Needham & Company LLC restated a “buy” rating and set a $26.00 target price on shares of Nurix Therapeutics in a research report 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. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a report on Tuesday, March 24th. Finally, BTIG Research reiterated a “buy” rating and issued a $30.00 price objective on shares of Nurix Therapeutics in a research note on Thursday, January 29th.

Insider Activity

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction dated Friday, January 30th. The shares were 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gwenn Hansen sold 4,895 shares of Nurix Therapeutics 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 sale, the insider owned 83,672 shares of the company’s stock, valued at approximately $1,388,955.20. The trade was a 5.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Flax Pond Capital LLC purchased a new stake in Nurix Therapeutics during the fourth quarter worth $1,521,000. Caitong International Asset Management Co. Ltd acquired a new stake in Nurix Therapeutics in the fourth quarter valued at $53,000. Seven Fleet Capital Management LP purchased a new position in shares of Nurix Therapeutics in the fourth quarter valued at $379,000. Invesco Ltd. increased its position in shares of Nurix Therapeutics by 115.0% in the fourth quarter. Invesco Ltd. now owns 343,830 shares of the company’s stock valued at $6,522,000 after buying an additional 183,909 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its stake in shares of Nurix Therapeutics by 3.6% during the 4th quarter. Voloridge Investment Management LLC now owns 154,459 shares of the company’s stock worth $2,930,000 after buying an additional 5,318 shares during the last quarter.

Nurix Therapeutics Stock Performance

NASDAQ NRIX opened at $15.51 on Monday. The business’s 50 day moving average is $15.89 and its two-hundred day moving average is $15.11. Nurix Therapeutics has a 12-month low of $8.18 and a 12-month high of $22.50. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -5.10 and a beta of 1.97.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $13.58 million during the quarter, compared to the consensus estimate of $13.41 million. Equities analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

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.