Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $28.87 Consensus Price Target from Analysts

Key Points

• Nurix Therapeutics has received a consensus rating of "Moderate Buy" from 16 brokerages, with an average 12-month target price of $28.87.
• Insider trading activity includes Gwenn Hansen selling 4,308 shares and CFO Houte Hans Van selling 5,402 shares, leading to significant decreases in their ownership stakes.
• Recently, shares of Nurix Therapeutics traded at approximately $10.14, with a 1-year price range between $8.18 and $29.56.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $28.8667.

Several brokerages recently issued reports on NRIX. Stephens reiterated an "overweight" rating and set a $30.00 price target on shares of Nurix Therapeutics in a research report on Thursday, July 10th. Baird R W upgraded shares of Nurix Therapeutics to a "strong-buy" rating in a research report on Tuesday. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. UBS Group reduced their price target on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, July 10th. Finally, Oppenheimer reiterated an "outperform" rating and set a $30.00 price target (down previously from $32.00) on shares of Nurix Therapeutics in a research report on Thursday, July 31st.

Nurix Therapeutics Trading Down 0.7%

NASDAQ NRIX traded down $0.07 on Friday, hitting $9.34. 1,832,002 shares of the company were exchanged, compared to its average volume of 610,933. The firm has a 50 day moving average of $11.20 and a two-hundred day moving average of $11.81. The company has a market cap of $714.04 million, a P/E ratio of -3.58 and a beta of 2.14. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.27. The business had revenue of $44.06 million for the quarter, compared to the consensus estimate of $16.26 million. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. Research analysts anticipate that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,308 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total transaction of $51,739.08. Following the completion of the sale, the insider directly owned 69,023 shares of the company's stock, valued at approximately $828,966.23. The trade was a 5.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 5,402 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $11.03, for a total value of $59,584.06. Following the sale, the chief financial officer directly owned 35,512 shares of the company's stock, valued at $391,697.36. This represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,014 shares of company stock valued at $163,014 over the last three months. Company insiders own 7.40% of the company's stock.

Institutional Trading of Nurix Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Nurix Therapeutics during the 4th quarter worth about $28,000. Aquatic Capital Management LLC bought a new stake in Nurix Therapeutics during the 4th quarter worth about $87,000. Tower Research Capital LLC TRC raised its holdings in Nurix Therapeutics by 118.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company's stock worth $73,000 after purchasing an additional 3,475 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Nurix Therapeutics during the 4th quarter worth about $164,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Nurix Therapeutics by 38.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock valued at $109,000 after acquiring an additional 2,562 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.