Nurix Therapeutics (NASDAQ:NRIX) Shares Down 8.6% After Earnings Miss

Key Points

• Nurix Therapeutics shares fell 8.6% after the company reported a quarterly earnings miss, with EPS of -$0.81 versus expectations of -$0.72 and revenue of $9.04 million versus the $15.29 million forecast.
• The company also announced a global collaboration with Roche for bexobrutideg that could total up to $2.3 billion, including a $700 million upfront payment, which analysts view as a major validation of its pipeline.
• Despite the weak results, Wall Street sentiment remains fairly constructive: multiple firms reiterated Buy ratings, and the stock carries a Moderate Buy consensus with an average target price of $33.62.

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s share price was down 8.6% on Friday following a dissappointing earnings announcement. The stock traded as low as $23.29 and last traded at $22.5550. 118,665 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,546,845 shares. The stock had previously closed at $24.69.

The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.09). The business had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%.

Key Headlines Impacting Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Nurix announced a global collaboration with Roche for bexobrutideg that could bring up to $2.3 billion in total payments, including a $700 million upfront payment, which is a major validation of the company’s pipeline and a meaningful source of non-dilutive capital. Article Title
• Positive Sentiment: Needham & Company LLC reaffirmed its Buy rating and set a $34 price target, implying notable upside from recent trading levels. Article Title
• Positive Sentiment: BTIG Research also reiterated a Buy rating with a $32 price target, reinforcing the view that the Roche deal and broader pipeline remain attractive to analysts. Article Title
• Neutral Sentiment: Nurix’s second-quarter results were weaker than expected, with a loss of $0.81 per share versus estimates for a $0.72 loss and revenue of $9.04 million versus $15.29 million expected, highlighting ongoing operating losses and revenue volatility. Article Title
• Neutral Sentiment: Additional coverage of the Q2 2026 earnings release echoed the same miss on EPS and revenue, which may temper enthusiasm but is partly offset by the Roche collaboration and analyst upgrades. Article Title

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NRIX. Wells Fargo & Company lowered shares of Nurix Therapeutics from an "overweight" rating to a "hold" rating and decreased their price objective for the stock from $28.00 to $25.00 in a report on Monday, June 8th. BTIG Research restated a "buy" rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a research report on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nurix Therapeutics in a report on Tuesday, April 21st. Oppenheimer started coverage on Nurix Therapeutics in a research note on Monday, June 29th. They issued an "outperform" rating and a $28.00 target price for the company. Finally, Truist Financial boosted their target price on Nurix Therapeutics from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.62.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 5,394 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total transaction 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. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the transaction, the chief financial officer owned 37,592 shares in the company, valued at $624,027.20. This represents a 27.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 25,051 shares of company stock valued at $434,466. 6.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Larson Financial Group LLC grew its stake in shares of Nurix Therapeutics by 339.0% during the fourth 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 bought a new stake in Nurix Therapeutics in the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd acquired a new position in Nurix Therapeutics in the fourth quarter valued at about $33,000. KBC Group NV acquired a new position in Nurix Therapeutics in the first quarter valued at about $34,000. Finally, Wexford Capital LP bought a new position in Nurix Therapeutics during the third quarter worth about $41,000.

Nurix Therapeutics Stock Down 8.0%

The stock has a market cap of $2.35 billion, a P/E ratio of -7.18 and a beta of 1.80. The stock has a fifty day simple moving average of $18.31 and a 200-day simple moving average of $17.33.

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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