Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $24.80 Average PT from Analysts

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $25.10.

A number of equities analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $35.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. Robert W. Baird lifted their price target on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Royal Bank of Canada lifted their price target on shares of Nurix Therapeutics from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday, June 17th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $27.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, May 15th.

Nurix Therapeutics Stock Performance

Shares of NRIX stock opened at $20.74 on Tuesday. Nurix Therapeutics has a 52-week low of $4.22 and a 52-week high of $22.44. The stock has a market cap of $1.02 billion, a PE ratio of -7.80 and a beta of 2.17. The firm’s 50 day moving average price is $15.52 and its two-hundred day moving average price is $12.69.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The firm had revenue of $16.59 million for the quarter, compared to analysts’ expectations of $14.58 million. As a group, sell-side analysts predict that Nurix Therapeutics will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of Nurix Therapeutics stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the sale, the insider now directly owns 19,838 shares in the company, valued at approximately $337,444.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of Nurix Therapeutics stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the sale, the insider now directly owns 19,838 shares in the company, valued at approximately $337,444.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Houte Hans Van sold 3,499 shares of Nurix Therapeutics stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the sale, the chief financial officer now owns 68,333 shares in the company, valued at $876,712.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,789 shares of company stock worth $152,023. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Opaleye Management Inc. acquired a new position in shares of Nurix Therapeutics during the 1st quarter worth about $3,928,000. Ikarian Capital LLC bought a new stake in shares of Nurix Therapeutics during the 1st quarter worth about $4,410,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Nurix Therapeutics by 73.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 434,413 shares of the company’s stock worth $6,386,000 after buying an additional 184,086 shares during the period. Caxton Associates LP bought a new stake in shares of Nurix Therapeutics during the 1st quarter worth about $225,000. Finally, Redmile Group LLC boosted its holdings in shares of Nurix Therapeutics by 37.7% during the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock worth $65,900,000 after buying an additional 1,226,497 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.