Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nineteen brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and sixteen have given a 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 $30.44.

Several research analysts have recently commented on NRIX shares. JPMorgan Chase & Co. lowered their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Needham & Company LLC reissued a "buy" rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Wells Fargo & Company lowered their price objective on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus lowered their price objective on shares of Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Leerink Partnrs raised shares of Nurix Therapeutics to a "hold" rating in a research note on Monday, March 17th.

Nurix Therapeutics Stock Down 3.6%

NRIX stock traded down $0.36 during mid-day trading on Friday, hitting $9.78. 640,900 shares of the company were exchanged, compared to its average volume of 879,238. The firm has a market capitalization of $745.59 million, a P/E ratio of -3.38 and a beta of 2.23. The business has a fifty day simple moving average of $10.83 and a 200-day simple moving average of $16.60. Nurix Therapeutics has a 12-month low of $8.18 and a 12-month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.05. The company had revenue of $18.45 million during the quarter, compared to analyst estimates of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same quarter last year, the firm posted ($0.76) earnings per share. Research analysts predict that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $38,835.50. Following the sale, the insider now directly owns 61,516 shares in the company, valued at approximately $707,434. The trade was a 5.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 5,825 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the sale, the chief financial officer now owns 33,724 shares in the company, valued at $488,660.76. The trade was a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,838 shares of company stock valued at $221,500. 7.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Nurix Therapeutics by 1,711.9% during the 4th quarter. FMR LLC now owns 10,634,231 shares of the company's stock worth $200,349,000 after purchasing an additional 10,047,329 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Nurix Therapeutics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,415,122 shares of the company's stock worth $52,452,000 after purchasing an additional 69,856 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Nurix Therapeutics by 3.0% during the 4th quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company's stock worth $67,572,000 after purchasing an additional 104,500 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Nurix Therapeutics by 2.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,428,283 shares of the company's stock worth $28,849,000 after purchasing an additional 47,855 shares in the last quarter. Finally, Soleus Capital Management L.P. boosted its position in shares of Nurix Therapeutics by 97.3% during the 4th quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock worth $39,617,000 after purchasing an additional 1,036,999 shares in 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.