Nurix Therapeutics (NASDAQ:NRIX) Releases Earnings Results

Key Points

• Nurix Therapeutics reported quarterly EPS of $4.73, far exceeding the consensus estimate of a $0.60 loss per share, although the company continued to post a negative net margin and return on equity.
• NRIX shares fell 0.9% to $22.16, giving the company a market capitalization of approximately $2.30 billion; the stock has traded between $9.00 and $28.23 over the past year.
• Analyst sentiment remains favorable: 13 analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $34.21, while insiders have sold shares under pre-arranged trading plans.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) posted its quarterly earnings data on Monday. The company reported $4.73 earnings per share for the quarter, topping the consensus estimate of ($0.60) by $5.33, Zacks reports. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%.

Nurix Therapeutics Stock Down 0.9%

Shares of NRIX stock traded down $0.19 during trading hours on Monday, hitting $22.16. 1,432,317 shares of the company's stock traded hands, compared to its average volume of 1,467,827. The stock has a market cap of $2.30 billion, a PE ratio of -6.42 and a beta of 1.82. Nurix Therapeutics has a 12 month low of $9.00 and a 12 month high of $28.23. The stock's 50 day simple moving average is $25.24 and its 200 day simple moving average is $20.90.

Insiders Place Their Bets

In other news, insider Gwenn Hansen sold 1,452 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $25.47, for a total value of $36,982.44. Following the completion of the sale, the insider directly owned 117,227 shares in the company, valued at $2,985,771.69. This trade represents a 1.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the sale, the chief financial officer owned 40,166 shares of the company's stock, valued at $978,443.76. This trade represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 21,372 shares of company stock worth $518,463. Insiders own 6.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NRIX shares. Stifel Nicolaus upped their price objective on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, July 10th. HC Wainwright lifted their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Mizuho boosted their price target on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Royal Bank Of Canada upped their target price on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, Morgan Stanley raised their price target on Nurix Therapeutics from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.21.

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.

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