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

Key Points

• Nurix Therapeutics has received an average recommendation of "Moderate Buy" from 17 research firms, with 14 analysts issuing buy ratings and 3 holding the stock.
• The company's average twelve-month price target is $29.31, reflecting the market's positive outlook despite a recent price drop to $11.89.
• Insider trading activity includes a significant sale by CFO Houte Hans Van, who sold 6,198 shares at an average price of $11.33, reducing his ownership by 15.53%.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the sixteen brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $28.87.

Several analysts recently issued reports on the company. Stephens reissued an "overweight" rating and issued a $30.00 price target on shares of Nurix Therapeutics in a report on Thursday, July 10th. Wall Street Zen raised Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Needham & Company LLC reissued a "buy" rating and issued a $27.00 price target on shares of Nurix Therapeutics in a report on Tuesday, April 29th. Morgan Stanley set a $16.00 price objective on Nurix Therapeutics and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Oppenheimer reiterated an "outperform" rating and set a $30.00 price objective (down from $32.00) on shares of Nurix Therapeutics in a research report on Thursday.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 4,308 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total value of $51,739.08. Following the completion of the sale, the insider directly owned 69,023 shares of the company's stock, valued at approximately $828,966.23. This represents a 5.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 4,304 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total value of $51,691.04. Following the completion of the transaction, the chief financial officer owned 40,914 shares in the company, valued at $491,377.14. This represents a 9.52% decrease in their position. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently made changes to their positions in the business. Jump Financial LLC acquired a new stake in Nurix Therapeutics during the fourth quarter valued at $1,406,000. ARK Investment Management LLC increased its holdings in Nurix Therapeutics by 4.0% in the first quarter. ARK Investment Management LLC now owns 1,590,910 shares of the company's stock worth $18,900,000 after buying an additional 60,617 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Nurix Therapeutics in the first quarter worth approximately $499,000. Affinity Asset Advisors LLC increased its holdings in Nurix Therapeutics by 9.3% in the fourth quarter. Affinity Asset Advisors LLC now owns 940,083 shares of the company's stock worth $17,711,000 after buying an additional 79,684 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Nurix Therapeutics in the fourth quarter worth approximately $1,026,000.

Nurix Therapeutics Price Performance

Shares of NRIX stock traded down $0.22 on Wednesday, hitting $11.04. 533,370 shares of the stock traded hands, compared to its average volume of 887,076. The company has a market capitalization of $844.00 million, a PE ratio of -4.23 and a beta of 2.15. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56. The company's fifty day moving average is $11.79 and its 200 day moving average is $13.13.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.27. The business had revenue of $44,056 billion for the quarter, compared to analyst estimates of $16.26 million. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%. As a group, equities research analysts expect that Nurix Therapeutics will post -2.99 EPS for the current year.

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.