Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives Average Rating of “Moderate Buy” from Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $29.40.

A number of equities research analysts recently issued reports on the stock. UBS Group initiated coverage on shares of Nurix Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $35.00 target price for the company. Robert W. Baird initiated coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $26.00 target price for the company. Jefferies Financial Group began coverage on Nurix Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $41.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, November 6th. Finally, HC Wainwright increased their target price on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 21st.

Nurix Therapeutics Trading Down 2.6 %

NASDAQ NRIX opened at $21.23 on Friday. Nurix Therapeutics has a 1-year low of $5.68 and a 1-year high of $29.56. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -7.30 and a beta of 2.20. The stock’s 50 day moving average is $24.09 and its two-hundred day moving average is $21.70.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting the consensus estimate of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. On average, analysts predict that Nurix Therapeutics will post -2.81 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other news, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $22.23, for a total value of $128,044.80. Following the completion of the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $546,680.16. The trade was a 18.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Houte Hans Van sold 3,546 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the sale, the chief financial officer now directly owns 33,724 shares in the company, valued at $818,818.72. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,451 shares of company stock worth $663,160 in the last three months. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Large investors have recently modified their holdings of the business. SG Americas Securities LLC increased its stake in Nurix Therapeutics by 365.0% during the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock worth $2,154,000 after purchasing an additional 81,005 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Nurix Therapeutics by 80.7% during the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after purchasing an additional 144,700 shares in the last quarter. TD Asset Management Inc bought a new position in Nurix Therapeutics during the 2nd quarter worth about $593,000. Candriam S.C.A. raised its stake in shares of Nurix Therapeutics by 30.5% in the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after purchasing an additional 272,136 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Nurix Therapeutics by 31.4% in the second quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock valued at $4,365,000 after purchasing an additional 49,918 shares in the last quarter.

Nurix Therapeutics Company Profile

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.