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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Nurix Therapeutics, with 13 buy ratings, one hold and one sell among 15 brokerages. The average 12-month price target is $34, above the stock’s reported $25.53 price.
• Several firms recently raised their price targets, including Jefferies to $45, Stifel to $40, HC Wainwright to $34 and RBC to $33, while reiterating positive ratings.
• Nurix reported weaker-than-expected quarterly results, with an adjusted loss of $0.81 per share versus the $0.73 consensus estimate and revenue of $9.04 million versus $15.29 million expected. Insiders sold 25,314 shares worth about $589,000 over the past 90 days under pre-arranged trading plans.

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $34.00.

A number of research analysts have recently issued reports on NRIX shares. Stifel Nicolaus lifted their target price on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 10th. HC Wainwright raised their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the company a "buy" rating in a report on Friday, July 10th. BTIG Research reiterated a "buy" rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a research report on Friday, July 10th. Royal Bank Of Canada increased their target price on Nurix Therapeutics from $30.00 to $33.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Finally, Jefferies Financial Group lifted their price target on Nurix Therapeutics from $41.00 to $45.00 and gave the company a "buy" rating in a report on Monday, June 8th.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 5,394 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the transaction, the insider directly owned 115,005 shares in the company, valued at approximately $2,300,100. This trade represents a 4.48% decrease in their position. The sale was disclosed in a 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, CFO Houte Hans Van sold 4,761 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the sale, the chief financial officer owned 40,166 shares of the company's stock, valued at approximately $978,443.76. This represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 25,314 shares of company stock worth $589,361. Company insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of NRIX. Larson Financial Group LLC raised its position in shares of Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock valued at $29,000 after acquiring an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management bought a new position in shares of Nurix Therapeutics in the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth $33,000. KBC Group NV acquired a new stake in shares of Nurix Therapeutics during the first quarter worth $34,000. Finally, Avalon Trust Co bought a new stake in Nurix Therapeutics in the second quarter valued at about $64,000.

Nurix Therapeutics Stock Up 1.2%

Shares of Nurix Therapeutics stock opened at $25.53 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of -7.40 and a beta of 1.79. The company has a 50-day simple moving average of $21.26 and a 200 day simple moving average of $18.06. Nurix Therapeutics has a 12-month low of $8.19 and a 12-month high of $25.89.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced 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). The firm had revenue of $9.04 million for the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. On average, equities analysts anticipate that Nurix Therapeutics will post -2.73 earnings per share for the current year.

Nurix Therapeutics Company Profile

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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