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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $30.18.

A number of brokerages recently weighed in on NRIX. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Leerink Partnrs raised shares of Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. HC Wainwright reissued a "buy" rating and set a $36.00 price target on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Leerink Partners initiated coverage on Nurix Therapeutics in a research report on Monday, March 17th. They issued a "market perform" rating and a $16.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 29th.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $12.73 on Friday. The company has a market capitalization of $970.54 million, a P/E ratio of -4.55 and a beta of 2.15. Nurix Therapeutics has a fifty-two week low of $8.18 and a fifty-two week high of $29.56. The stock has a 50-day simple moving average of $11.12 and a 200-day simple moving average of $14.10.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, beating 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 47.49% and a negative net margin of 369.40%. During the same quarter in the previous year, the business earned ($0.76) earnings per share. As a group, analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Gwenn Hansen sold 3,377 shares of the business's stock in a transaction dated 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 owned 61,516 shares of the company's stock, valued at approximately $707,434. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Houte Hans Van sold 6,198 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $11.33, for a total transaction of $70,223.34. Following the transaction, the chief financial officer owned 33,724 shares in the company, valued at $382,092.92. The trade was a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,013 shares of company stock valued at $137,096. 7.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Jump Financial LLC acquired a new position in Nurix Therapeutics during the fourth quarter worth $1,406,000. Affinity Asset Advisors LLC increased its position in shares of Nurix Therapeutics by 9.3% in the fourth quarter. Affinity Asset Advisors LLC now owns 940,083 shares of the company's stock valued at $17,711,000 after buying an additional 79,684 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth $1,026,000. RA Capital Management L.P. purchased a new stake in shares of Nurix Therapeutics in the 4th quarter worth about $25,120,000. Finally, Norges Bank purchased a new stake in shares of Nurix Therapeutics in the 4th quarter worth about $6,006,000.

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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