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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.44.

A number of research firms have issued reports on NRIX. JPMorgan Chase & Co. decreased their price target on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Stephens reiterated an "overweight" rating and set a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. HC Wainwright reissued a "buy" rating and issued a $36.00 target price on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Finally, Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a research report on Monday, March 17th.

Nurix Therapeutics Price Performance

NRIX opened at $9.46 on Friday. The company has a market capitalization of $721.19 million, a PE ratio of -3.27 and a beta of 2.23. The business has a 50-day moving average of $11.15 and a 200-day moving average of $17.01. Nurix Therapeutics has a fifty-two week low of $8.18 and a fifty-two week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping analysts' consensus estimates of ($0.72) by $0.05. The company had revenue of $18.45 million during the quarter, compared to analysts' expectations of $12.78 million. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. On average, equities research analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,377 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total value of $38,835.50. Following the completion of the sale, the insider now directly owns 61,516 shares in the company, valued at approximately $707,434. This trade represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 2,438 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $28,037.00. Following the transaction, the chief financial officer now owns 39,922 shares of the company's stock, valued at $459,103. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,838 shares of company stock valued at $221,500 over the last quarter. Corporate insiders own 7.40% of the company's stock.

Institutional Trading of Nurix Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its position in shares of Nurix Therapeutics by 77.9% in the third quarter. Barclays PLC now owns 128,344 shares of the company's stock valued at $2,884,000 after acquiring an additional 56,190 shares during the period. Franklin Resources Inc. raised its holdings in shares of Nurix Therapeutics by 52.4% during the 3rd quarter. Franklin Resources Inc. now owns 123,101 shares of the company's stock worth $2,766,000 after buying an additional 42,315 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Nurix Therapeutics by 85.2% in the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company's stock worth $1,531,000 after acquiring an additional 31,352 shares during the last quarter. SG Americas Securities LLC boosted its position in Nurix Therapeutics by 31.1% in the fourth quarter. SG Americas Securities LLC now owns 30,086 shares of the company's stock valued at $567,000 after buying an additional 7,141 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Nurix Therapeutics by 21.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,020 shares of the company's stock valued at $283,000 after acquiring an additional 2,632 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.

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