Nurix Therapeutics, Inc. (NRIX) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts are broadly bullish: Fifteen firms give Nurix Therapeutics a consensus “Moderate Buy” rating, with 13 buys, one hold, and one sell. The average 12-month price target is $34.79, above the recent $25.51 share price.
• Recent results significantly exceeded expectations: Nurix reported quarterly EPS of $4.73 versus the consensus estimate of a $0.60 loss, while revenue reached $673.06 million compared with expectations of $24.35 million.
• Insiders have been selling shares while institutions added positions: Insiders sold 45,407 shares worth about $1.08 million during the last quarter, whereas several institutional investors increased their stakes. The company is developing targeted protein degraders, including BTK-focused candidates NX-5948 and NX-2127.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $34.79.

A number of research analysts have recently commented on NRIX shares. 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. Mizuho raised their target price on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Truist Financial lowered their target price on shares of Nurix Therapeutics from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, October 13th. Morgan Stanley boosted their target price on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Finally, Stifel Nicolaus set a $41.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, October 13th.

Nurix Therapeutics Trading Down 2.0%

Nurix Therapeutics stock opened at $25.51 on Friday. The stock has a fifty day moving average price of $25.05 and a 200 day moving average price of $21.49. Nurix Therapeutics has a 52 week low of $10.28 and a 52 week high of $28.23. The firm has a market capitalization of $2.79 billion, a P/E ratio of 11.04 and a beta of 1.82.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Monday, October 12th. The company reported $4.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.60) by $5.33. The firm had revenue of $673.06 million for the quarter, compared to analyst estimates of $24.35 million. Nurix Therapeutics had a return on equity of 49.34% and a net margin of 42.01%. As a group, equities analysts predict that Nurix Therapeutics will post 1.14 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, Director Julia P. Gregory sold 22,583 shares of the company's stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $23.40, for a total transaction of $528,442.20. Following the completion of the sale, the director directly owned 10,750 shares in the company, valued at $251,550. This represents a 67.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Gwenn Hansen sold 4,356 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $25.00, for a total value of $108,900.00. Following the completion of the transaction, the insider directly owned 117,227 shares in the company, valued at $2,930,675. This trade represents a 3.58% decrease in their ownership of the stock. 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 a total of 45,407 shares of company stock worth $1,083,206 in the last quarter. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its holdings in shares of Nurix Therapeutics by 310.4% during the 3rd quarter. Sterling Capital Management LLC now owns 2,885 shares of the company's stock worth $68,000 after purchasing an additional 2,182 shares during the period. GAMMA Investing LLC raised its holdings in Nurix Therapeutics by 95.4% in the third quarter. GAMMA Investing LLC now owns 1,270 shares of the company's stock valued at $30,000 after buying an additional 620 shares during the period. Farther Finance Advisors LLC raised its holdings in Nurix Therapeutics by 755.9% in the third quarter. Farther Finance Advisors LLC now owns 4,014 shares of the company's stock valued at $95,000 after buying an additional 3,545 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Nurix Therapeutics in the second quarter valued at approximately $33,000. Finally, Nykredit A S purchased a new position in Nurix Therapeutics in the second quarter valued at approximately $32,000.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that regulate the activity and abundance of proteins involved in cancer and immune-related diseases. Its research is based on targeted protein modulation, including the use of the ubiquitin-proteasome system and E3 ligases to selectively eliminate or modify disease-causing proteins.

The company's pipeline includes oral targeted protein degraders and other small-molecule therapies. Its investigational programs include NX-5948, a Bruton's tyrosine kinase (BTK) degrader being studied in B-cell malignancies and autoimmune diseases, and NX-2127, an orally administered BTK degrader designed to combine BTK degradation with immune-system modulation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.