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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $30.5385.

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. Truist Financial assumed coverage on shares of Nurix Therapeutics in a research report on Monday, November 24th. They set a “buy” rating and a $30.00 target price on the stock. BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of Nurix Therapeutics in a research note on Thursday, January 29th. Stifel Nicolaus raised their price target on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, HC Wainwright lifted their price target on shares of Nurix Therapeutics from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $15.05 on Thursday. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $22.50. The business has a 50-day moving average of $16.81 and a 200-day moving average of $14.57. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -4.95 and a beta of 1.96.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. The business had revenue of $13.58 million during the quarter, compared to analyst estimates of $13.41 million. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%. Research analysts expect that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity

In other news, CFO Houte Hans Van sold 3,661 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 45,427 shares in the company, valued at $754,088.20. This trade represents a 7.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gwenn Hansen sold 4,895 shares of Nurix Therapeutics stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $81,257.00. Following the sale, the insider directly owned 83,672 shares in the company, valued at approximately $1,388,955.20. The trade was a 5.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC increased its holdings in Nurix Therapeutics by 339.0% during the 4th 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 during the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in shares of Nurix Therapeutics during the 4th quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth approximately $33,000. Wexford Capital LP bought a new stake in shares of Nurix Therapeutics in the third quarter worth $41,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Nurix Therapeutics by 118.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock worth $73,000 after buying an additional 3,475 shares during 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.