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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.0769.

NRIX has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Nurix Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 10th. BTIG Research reissued a “buy” rating and issued a $32.00 target price on shares of Nurix Therapeutics in a report on Friday, July 10th. Wall Street Zen upgraded shares of Nurix Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Wells Fargo & Company cut shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $25.00 in a research note on Monday, June 8th. Finally, HC Wainwright increased their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 10th.

Nurix Therapeutics Stock Performance

NRIX stock opened at $23.12 on Wednesday. The stock has a market capitalization of $2.40 billion, a PE ratio of -6.70 and a beta of 1.80. The company has a fifty day moving average of $19.09 and a 200-day moving average of $17.49. Nurix Therapeutics has a one year low of $8.19 and a one year high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The business had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. Equities analysts forecast that Nurix Therapeutics will post -2.82 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Houte Hans Van sold 14,055 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the sale, the chief financial officer directly owned 37,592 shares in the company, valued at approximately $624,027.20. This trade represents a 27.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the sale, the insider directly owned 115,005 shares in the company, valued at $2,300,100. This trade represents a 4.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,051 shares of company stock worth $434,466 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds have recently bought and sold shares of NRIX. Larson Financial Group LLC boosted its position in Nurix Therapeutics by 339.0% during the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after purchasing an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in shares of Nurix Therapeutics in the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth $33,000. KBC Group NV acquired a new position in shares of Nurix Therapeutics during the 1st quarter worth $34,000. Finally, Wexford Capital LP purchased a new stake in shares of Nurix Therapeutics in the 3rd quarter worth about $41,000.

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.