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

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

A number of other brokerages have also recently weighed in on NRIX. Stifel Nicolaus lowered their price target on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 target price on shares of Nurix Therapeutics in a report on Tuesday, April 29th. Leerink Partners assumed coverage on shares of Nurix Therapeutics in a report on Monday, March 17th. They set a "market perform" rating and a $16.00 price target for the company. Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a research report on Monday, March 17th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $36.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Nurix Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $30.18.

Nurix Therapeutics Stock Performance

Shares of NRIX stock traded down $0.01 during mid-day trading on Friday, reaching $11.97. The company's stock had a trading volume of 425,729 shares, compared to its average volume of 849,759. The firm's 50-day moving average is $10.89 and its two-hundred day moving average is $14.57. The company has a market cap of $912.59 million, a P/E ratio of -4.27 and a beta of 2.16. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, topping analysts' consensus estimates of ($0.72) by $0.05. Nurix Therapeutics had a negative net margin of 369.40% and a negative return on equity of 47.49%. The firm had revenue of $18.45 million during the quarter, compared to analysts' expectations of $12.78 million. During the same quarter last year, the company earned ($0.76) earnings per share. Sell-side analysts anticipate that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $38,835.50. Following the sale, the insider now directly owns 61,516 shares in the company, valued at approximately $707,434. This trade represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Houte Hans Van sold 2,438 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $28,037.00. Following the completion of the transaction, the chief financial officer now directly owns 39,922 shares in the company, valued at approximately $459,103. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,013 shares of company stock worth $137,096. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new position in shares of Nurix Therapeutics during the fourth quarter worth about $1,406,000. Affinity Asset Advisors LLC boosted its position in Nurix Therapeutics by 9.3% during the 4th quarter. Affinity Asset Advisors LLC now owns 940,083 shares of the company's stock worth $17,711,000 after acquiring an additional 79,684 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Nurix Therapeutics during the 4th quarter worth approximately $1,026,000. RA Capital Management L.P. bought a new position in shares of Nurix Therapeutics during the 4th quarter worth approximately $25,120,000. Finally, Norges Bank acquired a new stake in shares of Nurix Therapeutics in the fourth quarter valued at approximately $6,006,000.

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.