Nurix Therapeutics' (NRIX) "Buy" Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reiterated a Buy rating on Nurix and set a $32 price target, implying roughly a 97% upside from the current share price.
• Nurix missed its latest quarter, reporting ($0.79) EPS vs. ($0.76) expected and $6.25M revenue vs. $14.25M expected, and remains unprofitable with large negative margins and negative ROE.
• Insiders—including Gwenn Hansen and CFO Houte Hans Van—sold shares on Jan. 30, reducing their holdings, and insiders now own about 6.7% of the company.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $32.00 target price on the stock. HC Wainwright's price target points to a potential upside of 97.04% from the company's current price.

Other analysts have also recently issued research reports about the company. BTIG Research reissued a "buy" rating and issued a $30.00 price objective on shares of Nurix Therapeutics in a research report on Thursday, January 29th. Morgan Stanley set a $36.00 price target on Nurix Therapeutics and gave the stock an "overweight" rating in a report on Thursday, January 8th. Stifel Nicolaus boosted their price target on Nurix Therapeutics from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Piper Sandler upped their price objective on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Thursday, January 29th. Finally, Wells Fargo & Company lowered their target price on shares of Nurix Therapeutics from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $30.46.

Nurix Therapeutics Stock Performance

Shares of Nurix Therapeutics stock opened at $16.24 on Friday. The company has a market capitalization of $1.68 billion, a PE ratio of -5.14 and a beta of 1.97. The company has a 50-day simple moving average of $15.70 and a two-hundred day simple moving average of $15.23. Nurix Therapeutics has a one year low of $8.18 and a one year high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 65.20%. The firm had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. On average, equities analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 4,895 shares of the company's stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $81,257.00. Following the sale, the insider owned 83,672 shares in the company, valued at $1,388,955.20. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $60,772.60. Following the completion of the transaction, the chief financial officer owned 45,427 shares in the company, valued at approximately $754,088.20. This trade represents a 7.46% decrease in their position. The SEC filing for this sale provides additional information. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Several large investors have recently made changes to their positions in NRIX. Larson Financial Group LLC boosted its holdings 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 purchasing an additional 1,190 shares during the last quarter. California State Teachers Retirement System raised its position in Nurix Therapeutics by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 68,019 shares of the company's stock valued at $1,290,000 after acquiring an additional 1,476 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in Nurix Therapeutics during the fourth quarter valued at approximately $31,000. Royal Bank of Canada increased its holdings in shares of Nurix Therapeutics by 17.6% during the 4th 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 in the last quarter. Finally, Arizona State Retirement System boosted 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 worth $417,000 after buying an additional 1,674 shares in the last quarter.

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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