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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $27.00.

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada boosted their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. HC Wainwright upped their target price on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. upped their target price on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Oppenheimer upped their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday.

Insider Buying and Selling

In related news, insider Christine Ring sold 1,900 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $17.01, for a total value of $32,319.00. Following the transaction, the insider now owns 19,838 shares in the company, valued at approximately $337,444.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the transaction, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine Ring sold 1,900 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $17.01, for a total transaction of $32,319.00. Following the transaction, the insider now owns 19,838 shares in the company, valued at approximately $337,444.38. The disclosure for this sale can be found here. Insiders have sold a total of 61,715 shares of company stock worth $1,449,070 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $1,175,000. New York State Common Retirement Fund lifted its stake in shares of Nurix Therapeutics by 59.5% in the 4th quarter. New York State Common Retirement Fund now owns 16,156 shares of the company’s stock worth $167,000 after purchasing an additional 6,025 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Nurix Therapeutics by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,297 shares of the company’s stock worth $6,422,000 after purchasing an additional 53,721 shares during the period. Jump Financial LLC bought a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $158,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Nurix Therapeutics by 248.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 142,146 shares of the company’s stock worth $1,467,000 after purchasing an additional 101,320 shares during the period.

Nurix Therapeutics Trading Down 4.5 %

Shares of Nurix Therapeutics stock opened at $23.33 on Friday. The company’s fifty day simple moving average is $22.16 and its two-hundred day simple moving average is $17.43. The company has a market cap of $1.15 billion, a P/E ratio of -7.99 and a beta of 2.23. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $26.12.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The company had revenue of $12.09 million for the quarter, compared to analysts’ expectations of $19.35 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. Analysts predict that Nurix Therapeutics will post -2.95 EPS for the current fiscal year.

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.