Nurix Therapeutics, Inc. (NASDAQ:NRIX) Given Consensus Rating of "Moderate Buy" by Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $21.33.

Several analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday. Morgan Stanley upped their target price on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. HC Wainwright reduced their price objective on shares of Nurix Therapeutics from $35.00 to $19.00 and set a "buy" rating on the stock in a research report on Tuesday, February 20th. Robert W. Baird increased their price objective on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Wells Fargo & Company reduced their price objective on shares of Nurix Therapeutics from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, February 16th.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,812 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.02, for a total value of $68,256.24. Following the transaction, the chief financial officer now directly owns 68,333 shares in the company, valued at approximately $684,696.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 10,817 shares of company stock worth $100,256 in the last three months. Corporate insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its stake in Nurix Therapeutics by 211.1% in the 1st quarter. Quantbot Technologies LP now owns 5,600 shares of the company's stock worth $78,000 after acquiring an additional 3,800 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Nurix Therapeutics by 351.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company's stock valued at $58,000 after purchasing an additional 4,367 shares in the last quarter. Quest Partners LLC bought a new position in shares of Nurix Therapeutics during the fourth quarter valued at approximately $59,000. Royal Bank of Canada boosted its stake in shares of Nurix Therapeutics by 112.9% during the second quarter. Royal Bank of Canada now owns 5,804 shares of the company's stock valued at $58,000 after purchasing an additional 3,078 shares in the last quarter. Finally, Natixis bought a new position in shares of Nurix Therapeutics during the fourth quarter valued at approximately $83,000.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX traded up $1.52 during mid-day trading on Thursday, hitting $17.21. 1,048,176 shares of the company's stock traded hands, compared to its average volume of 859,281. The company's 50-day moving average is $12.28 and its two-hundred day moving average is $9.15. The company has a market capitalization of $845.89 million, a P/E ratio of -6.49 and a beta of 2.06. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $18.12.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.26). The business had revenue of $15.16 million for the quarter, compared to analysts' expectations of $30.66 million. Nurix Therapeutics had a negative net margin of 186.98% and a negative return on equity of 59.47%. Equities analysts anticipate that Nurix Therapeutics will post -3.26 EPS for the current fiscal year.

About Nurix Therapeutics

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.