Nurix Therapeutics (NASDAQ:NRIX) Rating Increased to Strong-Buy at Mizuho

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) was upgraded by analysts at Mizuho to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Wells Fargo & Company set a $22.00 price target on shares of Nurix Therapeutics in a research report on Monday, October 13th. Needham & Company LLC reiterated a "buy" rating and issued a $27.00 target price on shares of Nurix Therapeutics in a research note on Monday. HC Wainwright reiterated a "buy" rating and issued a $33.00 target price on shares of Nurix Therapeutics in a research note on Monday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $29.00 target price on shares of Nurix Therapeutics in a research note on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Nurix Therapeutics from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nurix Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $27.67.

Nurix Therapeutics Price Performance

NRIX opened at $10.63 on Monday. The company's 50-day moving average is $9.48 and its 200 day moving average is $10.51. Nurix Therapeutics has a fifty-two week low of $8.18 and a fifty-two week high of $29.56. The firm has a market capitalization of $817.23 million, a P/E ratio of -3.58 and a beta of 2.33.

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

Insider Activity

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,308 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 transaction of $51,739.08. Following the transaction, the insider owned 69,023 shares in the company, valued at approximately $828,966.23. This represents a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 5,402 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $11.03, for a total transaction of $59,584.06. Following the transaction, the chief financial officer owned 35,512 shares in the company, valued at $391,697.36. This represents a 13.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,014 shares of company stock worth $163,014 in the last 90 days. Company insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Nurix Therapeutics by 7.4% during the first quarter. Bank of New York Mellon Corp now owns 205,078 shares of the company's stock valued at $2,436,000 after buying an additional 14,173 shares during the last quarter. Arizona State Retirement System raised its position in shares of Nurix Therapeutics by 8.7% during the first quarter. Arizona State Retirement System now owns 17,253 shares of the company's stock valued at $205,000 after buying an additional 1,385 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Nurix Therapeutics by 148.6% during the first quarter. New York State Common Retirement Fund now owns 52,688 shares of the company's stock valued at $626,000 after buying an additional 31,493 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Nurix Therapeutics during the first quarter valued at approximately $499,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Nurix Therapeutics during the first quarter valued at approximately $374,000.

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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