Nurix Therapeutics (NASDAQ:NRIX) Stock Rating Upgraded by Baird R W

Key Points

• Nurix Therapeutics stock has been upgraded to a "strong-buy" rating by Baird R W, reflecting positive analyst sentiment towards the company.
• The stock currently has a consensus price target of $28.87, with an average rating of "Moderate Buy" from analysts.
• Nurix Therapeutics reported earnings of ($0.52) per share, exceeding expectations, while also having significant revenue growth for the quarter.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) was upgraded by equities researchers at Baird R W to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley set a $16.00 price target on shares of Nurix Therapeutics and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Needham & Company LLC reissued a "buy" rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. UBS Group decreased their price objective on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, July 10th. Stephens reissued an "overweight" rating and issued a $30.00 price objective on shares of Nurix Therapeutics in a research report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.87.

Nurix Therapeutics Trading Down 1.4%

Shares of Nurix Therapeutics stock opened at $9.53 on Tuesday. The company has a fifty day moving average price of $11.33 and a 200 day moving average price of $11.93. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $29.56. The stock has a market cap of $728.57 million, a price-to-earnings ratio of -3.65 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.27. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. The firm had revenue of $44,056 billion during the quarter, compared to analysts' expectations of $16.26 million. Analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Activity

In other news, insider Gwenn Hansen sold 4,308 shares of the 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 of the company's stock, valued at approximately $828,966.23. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 5,402 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $11.03, for a total transaction of $59,584.06. Following the transaction, the chief financial officer directly owned 35,512 shares in the company, valued at $391,697.36. The trade was a 13.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,014 shares of company stock worth $163,014 in the last ninety days. Corporate insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in Nurix Therapeutics during the fourth quarter worth about $28,000. Aquatic Capital Management LLC acquired a new stake in Nurix Therapeutics during the fourth quarter worth about $87,000. Tower Research Capital LLC TRC raised its stake 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 worth $73,000 after acquiring an additional 3,475 shares during the period. BNP Paribas Financial Markets acquired a new stake in Nurix Therapeutics during the fourth quarter worth about $164,000. Finally, Exchange Traded Concepts LLC raised its stake in Nurix Therapeutics by 38.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock worth $109,000 after acquiring an additional 2,562 shares during the period.

About Nurix Therapeutics

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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