Nurix Therapeutics (NASDAQ:NRIX) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Nurix Therapeutics (NASDAQ:NRIX) released its quarterly earnings results on Thursday. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.08), Yahoo Finance reports. The firm had revenue of $12.09 million for the quarter, compared to the consensus estimate of $19.35 million. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%.

Nurix Therapeutics Trading Up 8.8 %

NASDAQ NRIX opened at $22.03 on Friday. The firm has a market capitalization of $1.08 billion, a P/E ratio of -8.28 and a beta of 2.22. The business has a fifty day simple moving average of $17.10 and a 200 day simple moving average of $13.52. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $22.79.

Analysts Set New Price Targets

Several analysts have recently weighed in on NRIX shares. Stifel Nicolaus restated a “buy” rating and set a $27.00 price target on shares of Nurix Therapeutics in a report on Wednesday, May 15th. Needham & Company LLC reduced their target price on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada upped their target price on Nurix Therapeutics from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Stephens assumed coverage on Nurix Therapeutics in a report on Tuesday, May 14th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on Nurix Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.90.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total value of $44,892.17. Following the completion of the transaction, the chief financial officer now owns 68,333 shares in the company, valued at approximately $876,712.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Houte Hans Van sold 3,499 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the transaction, the chief financial officer now owns 68,333 shares in the company, valued at approximately $876,712.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine Ring sold 5,760 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.81, for a total value of $119,865.60. Following the transaction, the insider now owns 19,838 shares of the company’s stock, valued at approximately $412,828.78. The disclosure for this sale can be found here. Insiders sold 16,549 shares of company stock worth $271,888 in the last quarter. 7.20% of the stock is currently owned by company insiders.

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.