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

Key Points

• Nurix Therapeutics has an average analyst rating of "Moderate Buy" from 14 brokerages, with 12 buy ratings, one hold, and one sell. The average 12-month price target is about $34.08.
• Several analysts recently raised their price targets, including Jefferies to $45, Mizuho to $34, Stifel to $40, and Truist to $34, while Needham reaffirmed a buy rating with a $34 target.
• The company’s latest quarterly results missed expectations, with EPS of -$0.81 versus an expected -$0.73 and revenue of $9.04 million versus $15.29 million estimated. Shares were trading at $22.98, near the top of their 52-week range.

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fourteen ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $34.0769.

A number of equities research analysts have weighed in on NRIX shares. Jefferies Financial Group upped their price target on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the company a "buy" rating in a report on Monday, June 8th. Mizuho boosted their price target on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the company an "outperform" rating in a report on Monday. Needham & Company LLC restated a "buy" rating and issued a $34.00 price target on shares of Nurix Therapeutics in a research report on Friday, July 10th. Stifel Nicolaus raised their price objective on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Finally, Truist Financial lifted their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the sale, the chief financial officer directly owned 37,592 shares of the company's stock, valued at approximately $624,027.20. This represents a 27.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the sale, the insider owned 115,005 shares of the company's stock, valued at $2,300,100. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,051 shares of company stock valued at $434,466 in the last 90 days. Corporate insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC lifted its position in shares of Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock worth $29,000 after purchasing an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in Nurix Therapeutics during the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd acquired a new position in Nurix Therapeutics in the 4th quarter valued at approximately $33,000. KBC Group NV purchased a new stake in Nurix Therapeutics in the 1st quarter worth approximately $34,000. Finally, Wexford Capital LP purchased a new stake in Nurix Therapeutics in the 3rd quarter worth approximately $41,000.

Nurix Therapeutics Price Performance

NRIX opened at $22.98 on Wednesday. The business has a 50 day moving average price of $18.69 and a two-hundred day moving average price of $17.41. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -6.66 and a beta of 1.80. Nurix Therapeutics has a 1-year low of $8.19 and a 1-year high of $25.08.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The firm had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. Equities analysts expect that Nurix Therapeutics will post -2.82 EPS for the current fiscal year.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company's pipeline includes multiple programs in various stages of development.

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