Nurix Therapeutics (NASDAQ:NRIX) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Nurix Therapeutics from “sell” to “hold.” The broader analyst consensus remains “Moderate Buy,” with 13 buy ratings and a $34 average price target.
• NRIX shares opened at $25.53, near their 52-week high of $25.89, and have risen above both their 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.81 per share, missing estimates by $0.08, while revenue of $9.04 million fell short of the $15.29 million consensus estimate; insiders sold $589,361 worth of shares over the past 90 days.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other research analysts have also issued reports on the company. Oppenheimer assumed coverage on Nurix Therapeutics in a report on Monday, June 29th. They issued an "outperform" rating and a $28.00 price target on the stock. Stifel Nicolaus increased their target price on Nurix Therapeutics from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 10th. HC Wainwright lifted their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Nurix Therapeutics in a research note on Friday, July 17th. Finally, BTIG Research restated a "buy" rating and set a $32.00 price objective on shares of Nurix Therapeutics in a report on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Nurix Therapeutics Trading Up 1.2%

Shares of NASDAQ NRIX opened at $25.53 on Friday. The firm's 50-day moving average price is $21.26 and its 200-day moving average price is $18.06. Nurix Therapeutics has a 1-year low of $8.19 and a 1-year high of $25.89. The firm has a market capitalization of $2.65 billion, a P/E ratio of -7.40 and a beta of 1.79.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its earnings results on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Equities research analysts forecast that Nurix Therapeutics will post -2.84 EPS for the current year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 4,761 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the sale, the chief financial officer owned 40,166 shares in the company, valued at approximately $978,443.76. This represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the sale, the insider directly owned 115,005 shares of the company's stock, valued at $2,300,100. The trade was a 4.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,314 shares of company stock worth $589,361 in the last 90 days. Corporate insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds have recently bought and sold shares of NRIX. Larson Financial Group LLC boosted its stake in Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company's stock valued at $29,000 after acquiring an additional 1,190 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Nurix Therapeutics by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company's stock worth $1,290,000 after purchasing an additional 1,476 shares during the period. Intesa Sanpaolo Wealth Management bought a new stake in shares of Nurix Therapeutics in the 4th quarter worth approximately $31,000. Royal Bank of Canada lifted its stake in Nurix Therapeutics by 17.6% in the fourth quarter. Royal Bank of Canada now owns 10,842 shares of the company's stock valued at $206,000 after purchasing an additional 1,623 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Nurix Therapeutics by 8.2% during the fourth quarter. Arizona State Retirement System now owns 21,990 shares of the company's stock valued at $417,000 after purchasing an additional 1,674 shares during the period.

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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