Wall Street Zen Upgrades Nurix Therapeutics (NASDAQ:NRIX) to “Buy”

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

Several other research analysts have also weighed in on the stock. Truist Financial dropped their price objective on shares of Nurix Therapeutics from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. HC Wainwright lifted their target price on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus set a $41.00 price target on shares of Nurix Therapeutics in a report on Tuesday, October 13th. Mizuho boosted their price target on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research note on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $34.79.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $24.42 on Friday. The company has a 50 day simple moving average of $25.11 and a 200-day simple moving average of $21.20. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 10.57 and a beta of 1.82. Nurix Therapeutics has a 52-week low of $9.71 and a 52-week high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Monday, October 12th. The company reported $4.73 EPS for the quarter, topping the consensus estimate of ($0.60) by $5.33. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 49.34%. The business had revenue of $673.06 million during the quarter, compared to analysts’ expectations of $24.35 million. On average, analysts predict that Nurix Therapeutics will post 1.15 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Hans van Houte sold 4,761 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the completion of the sale, the chief financial officer owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. The trade was a 10.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $25.00, for a total value of $36,300.00. Following the completion of the transaction, the insider owned 117,227 shares in the company, valued at $2,930,675. This represents a 1.22% 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 45,407 shares of company stock valued at $1,083,206 in the last three months. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Nurix Therapeutics by 95.4% in the third quarter. GAMMA Investing LLC now owns 1,270 shares of the company’s stock worth $30,000 after acquiring an additional 620 shares in the last quarter. Nykredit A S acquired a new position in shares of Nurix Therapeutics during the 2nd quarter worth $32,000. Integrated Wealth Concepts LLC bought a new position in shares of Nurix Therapeutics during the 2nd quarter valued at $33,000. KBC Group NV bought a new position in shares of Nurix Therapeutics during the 1st quarter valued at $34,000. Finally, Avalon Trust Co bought a new position in shares of Nurix Therapeutics during the 2nd quarter valued at $64,000.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.