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

Key Points

• Analyst consensus: Fifteen analysts give Nurix a consensus rating of "Moderate Buy" (13 buy, 1 sell, 1 strong buy) with an average 12‑month target of about $30.46, well above the recent open near $16.70.
• Weak quarterly results: Nurix missed Q results (EPS of $0.79 loss vs $0.76 expected) and revenue of $6.25M vs $14.25M, remains unprofitable with steep negative margins and analysts expect about -2.92 EPS for the fiscal year.
• Mixed insider/institutional activity: Company insiders sold shares to cover tax withholding on vested awards, while institutional investors—led by large increases from Millennium Management and purchases by Goldman Sachs and others—boosted their positions.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a buy recommendation and one has given a strong 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 $30.4615.

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Nurix Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research note on Monday. Stifel Nicolaus increased their price target on Nurix Therapeutics from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Finally, Piper Sandler increased their price target on Nurix Therapeutics from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Thursday, January 29th.

Nurix Therapeutics Stock Up 0.5%

NRIX stock opened at $16.70 on Friday. The business's fifty day moving average is $15.83 and its 200-day moving average is $15.99. The company has a market cap of $1.73 billion, a P/E ratio of -5.28 and a beta of 1.97. Nurix Therapeutics has a twelve month low of $8.19 and a twelve month high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.03). The company had revenue of $6.25 million during the quarter, compared to analyst estimates of $14.25 million. Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. Research analysts anticipate that Nurix Therapeutics will post -2.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 2,388 shares of the company's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $16.65, for a total value of $39,760.20. Following the completion of the sale, the chief financial officer owned 51,647 shares in the company, valued at $859,922.55. This represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gwenn Hansen sold 3,214 shares of the company's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $16.65, for a total transaction of $53,513.10. Following the completion of the sale, the insider owned 120,399 shares of the company's stock, valued at approximately $2,004,643.35. This represents a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

A number of large investors have recently made changes to their positions in NRIX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nurix Therapeutics by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company's stock valued at $593,000 after buying an additional 5,286 shares in the last quarter. Millennium Management LLC increased its position in shares of Nurix Therapeutics by 106.2% in the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company's stock valued at $10,388,000 after buying an additional 450,262 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Nurix Therapeutics by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company's stock worth $6,029,000 after purchasing an additional 44,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Nurix Therapeutics by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company's stock worth $1,895,000 after purchasing an additional 12,817 shares in the last quarter. Finally, Creative Planning bought a new position in Nurix Therapeutics during the 2nd quarter worth about $187,000.

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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