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

Key Points

• Nurix Therapeutics has received a consensus recommendation of "Moderate Buy" from seventeen research firms, with an average 12-month price target of $28.14.
• The company reported (-$1.03) earnings per share for the last quarter, missing estimates by ($0.19), and generated revenue of $7.89 million, below analyst expectations.
• Insider transactions indicate that key executives have sold shares recently, with one insider reducing their holdings by 5.87% and another by 13.20%, demonstrating potential concerns regarding the company's financial outlook.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has received a consensus rating of "Moderate Buy" from the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $28.1429.

Several equities analysts recently weighed in on NRIX shares. Morgan Stanley set a $16.00 target price on Nurix Therapeutics and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. HC Wainwright decreased their price target on Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, July 14th. Stephens reissued an "overweight" rating and set a $30.00 price target on shares of Nurix Therapeutics in a report on Thursday, July 10th. Wall Street Zen cut Nurix Therapeutics from a "hold" rating to a "strong sell" rating in a report on Saturday. Finally, UBS Group decreased their price target on Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, July 10th.

Nurix Therapeutics Stock Performance

NASDAQ NRIX opened at $9.76 on Monday. The company has a market capitalization of $750.35 million, a PE ratio of -3.29 and a beta of 2.33. The business's fifty day moving average is $9.53 and its 200 day moving average is $10.55. Nurix Therapeutics has a fifty-two week low of $8.18 and a fifty-two week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.19). The company had revenue of $7.89 million for the quarter, compared to analysts' expectations of $16.06 million. Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. On average, sell-side analysts forecast that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Transactions at Nurix Therapeutics

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

Institutional Investors Weigh In On Nurix Therapeutics

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Nurix Therapeutics by 118.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company's stock worth $73,000 after purchasing an additional 3,475 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Nurix Therapeutics by 38.9% in the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock worth $109,000 after purchasing an additional 2,562 shares during the last quarter. Velan Capital Investment Management LP bought a new stake in shares of Nurix Therapeutics in the second quarter worth about $114,000. E Fund Management Co. Ltd. bought a new stake in shares of Nurix Therapeutics in the first quarter worth about $122,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Nurix Therapeutics in the second quarter worth about $141,000.

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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