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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $34.2143.

NRIX has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, June 8th. Royal Bank Of Canada increased their price objective on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Oppenheimer initiated coverage on shares of Nurix Therapeutics in a report on Monday, June 29th. They set an “outperform” rating and a $28.00 price objective on the stock. Truist Financial boosted their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Wells Fargo & Company lowered Nurix Therapeutics from an “overweight” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $25.00 in a report on Monday, June 8th.

Nurix Therapeutics Trading Down 0.5%

Shares of Nurix Therapeutics stock opened at $27.05 on Friday. The stock’s fifty day moving average price is $22.33 and its 200-day moving average price is $18.32. The firm has a market cap of $2.81 billion, a P/E ratio of -7.84 and a beta of 1.79. Nurix Therapeutics has a 12 month low of $8.19 and a 12 month high of $27.35.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The business had revenue of $9.04 million during the quarter, compared to analysts’ expectations of $15.29 million. Analysts forecast that Nurix Therapeutics will post -2.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 4,761 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the sale, the chief financial officer directly owned 40,166 shares in the company, valued at $978,443.76. This represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were 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 approximately $2,300,100. The trade was a 4.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,314 shares of company stock worth $589,361 over the last quarter. Company insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in NRIX. BlackRock Inc. purchased a new stake in shares of Nurix Therapeutics during the second quarter valued at about $212,769,000. General Atlantic L.P. purchased a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $92,899,000. Morgan Stanley raised its stake in shares of Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after acquiring an additional 2,620,323 shares in the last quarter. Rubric Capital Management LP bought a new position in shares of Nurix Therapeutics during the 4th quarter worth approximately $46,930,000. Finally, Braidwell LP purchased a new stake in Nurix Therapeutics during the fourth quarter valued at approximately $41,428,000.

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.