Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $29.07 Average PT from Brokerages

Key Points

• Nurix Therapeutics, Inc. has received a consensus rating of "Moderate Buy" from 16 analysts, with an average target price of $29.07.
• Insider transactions included Gwenn Hansen and CFO Houte Hans Van selling shares, reducing their positions by 5.87% and 13.20% respectively.
• The company reported a $44.06 million revenue in its last quarterly earnings, far exceeding analyst expectations of $16.26 million.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the sixteen analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $29.0714.

A number of analysts recently commented on NRIX shares. HC Wainwright dropped their target price on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, July 14th. UBS Group dropped their target price on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, July 10th. Morgan Stanley set a $16.00 target price on shares of Nurix Therapeutics and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Wall Street Zen raised shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Oppenheimer reissued an "outperform" rating and issued a $30.00 target price (down from $32.00) on shares of Nurix Therapeutics in a research report on Thursday, July 31st.

Nurix Therapeutics Stock Up 4.7%

Shares of NRIX stock traded up $0.40 during midday trading on Thursday, reaching $8.97. 1,148,605 shares of the company were exchanged, compared to its average volume of 797,515. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $29.56. The company's 50 day moving average price is $10.42 and its two-hundred day moving average price is $11.11.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, topping analysts' consensus estimates of ($0.79) by $0.27. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. The company had revenue of $44.06 million for the quarter, compared to the consensus estimate of $16.26 million. On average, analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 5,402 shares of Nurix Therapeutics stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $11.03, for a total value of $59,584.06. Following the transaction, the chief financial officer directly owned 35,512 shares of the company's stock, valued at $391,697.36. This trade represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gwenn Hansen sold 4,308 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total transaction of $51,739.08. Following the transaction, the insider directly owned 69,023 shares in the company, valued at $828,966.23. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,014 shares of company stock worth $163,014. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new position in Nurix Therapeutics during the fourth quarter valued at approximately $28,000. Tower Research Capital LLC TRC grew its position in Nurix Therapeutics by 118.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company's stock valued at $73,000 after purchasing an additional 3,475 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Nurix Therapeutics during the fourth quarter valued at approximately $164,000. Exchange Traded Concepts LLC grew its position in Nurix Therapeutics by 38.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock valued at $109,000 after purchasing an additional 2,562 shares in the last quarter. Finally, Velan Capital Investment Management LP bought a new stake in Nurix Therapeutics in the second quarter worth approximately $114,000.

About Nurix Therapeutics

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.