Nurix Therapeutics (NASDAQ:NRIX) Given Buy Rating at HC Wainwright

Key Points

• HC Wainwright reissued a "buy" rating on Nurix with a $32.00 target implying about a 117.84% upside$30.54 and an average rating of "Moderate Buy".
• Shares trade around $14.69 (one‑year range $8.18–$22.50) with a market cap of $1.51 billion; the company remains loss‑making (analysts expect ~-2.99 EPS this year) though the most recent quarter slightly beat EPS and revenue estimates.
• Insiders sold stock on Jan. 30 (Gwenn Hansen sold 4,895 shares and CFO Houte Hans Van sold 3,661 shares at $16.60), modestly reducing their stakes; insiders collectively own about 7.40% of the company.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $32.00 target price on the stock. HC Wainwright's target price points to a potential upside of 117.84% from the stock's current price.

Other analysts have also issued research reports about the stock. Truist Financial started coverage on shares of Nurix Therapeutics in a research note on Monday, November 24th. They set a "buy" rating and a $30.00 price target for the company. Morgan Stanley set a $36.00 price objective on shares of Nurix Therapeutics and gave the company an "overweight" rating in a report on Thursday, January 8th. Royal Bank Of Canada upped their target price on shares of Nurix Therapeutics from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, January 29th. Piper Sandler raised their price target on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday, January 29th. Finally, Mizuho boosted their price objective on Nurix Therapeutics from $24.00 to $30.00 and gave the stock an "outperform" rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nurix Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $30.54.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $14.69 on Tuesday. Nurix Therapeutics has a one year low of $8.18 and a one year high of $22.50. The company has a market cap of $1.51 billion, a PE ratio of -4.83 and a beta of 1.96. The stock has a 50-day moving average of $16.56 and a 200-day moving average of $14.72.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.02. The business had revenue of $13.58 million for the quarter, compared to analyst estimates of $13.41 million. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%. Analysts expect that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,895 shares of the company's stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $81,257.00. Following the completion of the sale, the insider directly owned 83,672 shares of the company's stock, valued at approximately $1,388,955.20. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 3,661 shares of Nurix Therapeutics stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $60,772.60. Following the transaction, the chief financial officer directly owned 45,427 shares in the company, valued at approximately $754,088.20. This represents a 7.46% decrease in their position. The SEC filing for this sale provides additional information. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its holdings in shares of Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock worth $29,000 after purchasing an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management purchased a new position in shares of Nurix Therapeutics during the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Nurix Therapeutics during the 4th quarter worth $33,000. Wexford Capital LP bought a new stake in Nurix Therapeutics in the 3rd quarter valued at about $41,000. Finally, Tower Research Capital LLC TRC lifted its holdings 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 during the last quarter.

Nurix Therapeutics Company Profile

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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