Nurix Therapeutics (NASDAQ:NRIX) Stock Rating Upgraded by Wall Street Zen

Nurix Therapeutics (NASDAQ:NRIX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also commented on the company. Mizuho upped their target price on Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. UBS Group upped their price objective on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group raised their target price on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. HC Wainwright upped their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of Nurix Therapeutics in a report on Tuesday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nurix Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $23.01 on Friday. The company has a 50-day simple moving average of $25.33 and a 200-day simple moving average of $20.36. The company has a market cap of $2.39 billion, a PE ratio of -6.67 and a beta of 1.80. Nurix Therapeutics has a 12 month low of $8.33 and a 12 month high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). The firm 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%. On average, analysts anticipate that Nurix Therapeutics will post -2.69 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Hans van Houte sold 4,761 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total value of $115,977.96. Following the transaction, the chief financial officer owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 4,356 shares of Nurix Therapeutics stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $25.00, for a total transaction of $108,900.00. Following the transaction, the insider owned 117,227 shares in the company, valued at $2,930,675. The trade was a 3.58% 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. In the last three months, insiders sold 21,372 shares of company stock worth $518,463. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Nurix Therapeutics during the 2nd quarter valued at $212,769,000. General Atlantic L.P. acquired a new position in Nurix Therapeutics in the 4th quarter worth $92,899,000. Baker BROS. Advisors LP boosted its position in Nurix Therapeutics by 20.0% in the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after buying an additional 776,431 shares during the last quarter. Perceptive Advisors LLC grew its stake in shares of Nurix Therapeutics by 4.4% during the first quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock valued at $57,519,000 after acquiring an additional 155,000 shares in the last quarter. Finally, Trails Edge Capital Partners LP purchased a new stake in shares of Nurix Therapeutics during the second quarter worth about $38,166,318.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the body’s natural protein-disposal systems to treat cancer and other serious diseases. The company’s approach centers on targeted protein modulation, including the use of small molecules to promote the degradation of disease-causing proteins or alter the activity of proteins involved in immune responses.

Nurix’s technology platform is built around E3 ligases, enzymes that help determine which proteins are marked for destruction inside cells.