Nurix Therapeutics (NASDAQ:NRIX) Earns Overweight Rating from Analysts at Stephens

Stephens started coverage on shares of Nurix Therapeutics (NASDAQ:NRIX - Free Report) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage issued an overweight rating and a $20.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on NRIX. Needham & Company LLC reiterated a buy rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 9th. HC Wainwright dropped their target price on shares of Nurix Therapeutics from $35.00 to $19.00 and set a buy rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada increased their price target on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Robert W. Baird lifted their price objective on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company lowered their price target on Nurix Therapeutics from $23.00 to $20.00 and set an overweight rating on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Nurix Therapeutics presently has an average rating of Moderate Buy and an average price target of $21.14.

Nurix Therapeutics Trading Up 7.2 %

Shares of NASDAQ NRIX traded up $1.01 during mid-day trading on Tuesday, hitting $14.95. The company had a trading volume of 1,488,963 shares, compared to its average volume of 926,515. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $18.12. The company has a market capitalization of $734.79 million, a price-to-earnings ratio of -5.62 and a beta of 2.10. The stock's 50-day moving average price is $14.06 and its 200-day moving average price is $10.44.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.04. The firm had revenue of $16.59 million for the quarter, compared to analysts' expectations of $14.58 million. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. As a group, equities research analysts forecast that Nurix Therapeutics will post -3.15 earnings per share for the current year.

Insider Activity

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total value of $44,892.17. Following the completion of the transaction, the chief financial officer now owns 68,333 shares in the company, valued at $876,712.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 13,705 shares of company stock valued at $154,012. Insiders own 9.80% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Nurix Therapeutics during the third quarter valued at $162,000. Raymond James & Associates raised its holdings in Nurix Therapeutics by 6.0% in the third quarter. Raymond James & Associates now owns 97,988 shares of the company's stock worth $770,000 after buying an additional 5,547 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Nurix Therapeutics by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 170,286 shares of the company's stock worth $1,338,000 after buying an additional 4,816 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Nurix Therapeutics by 14.8% during the third quarter. Principal Financial Group Inc. now owns 15,531 shares of the company's stock valued at $122,000 after acquiring an additional 2,002 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Nurix Therapeutics by 15.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 125,839 shares of the company's stock worth $989,000 after acquiring an additional 16,989 shares during the last quarter.

Nurix Therapeutics Company Profile

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.