Nurix Therapeutics (NASDAQ:NRIX) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $41.00 target price on the stock.

Several other brokerages have also commented on NRIX. Truist Financial initiated coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They issued a buy rating and a $36.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an outperform rating in a research report on Friday, July 12th. HC Wainwright lifted their target price on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the company a buy rating in a research report on Tuesday, June 18th. Oppenheimer upped their price target on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an outperform rating in a research report on Wednesday, September 4th. Finally, Robert W. Baird began coverage on Nurix Therapeutics in a report on Friday, September 6th. They issued an outperform rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $28.00.

Nurix Therapeutics Stock Performance

NRIX stock opened at $23.63 on Friday. Nurix Therapeutics has a one year low of $4.22 and a one year high of $26.31. The firm’s fifty day moving average is $23.27 and its 200 day moving average is $19.28. The firm has a market cap of $1.16 billion, a PE ratio of -8.09 and a beta of 2.22.

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

Insider Activity

In related news, CFO Houte Hans Van sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now directly owns 54,479 shares in the company, valued at approximately $1,126,080.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares of the company’s stock, valued at $1,126,080.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gwenn Hansen sold 3,408 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $70,443.36. Following the sale, the insider now directly owns 45,150 shares in the company, valued at approximately $933,250.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,815 shares of company stock valued at $1,424,931. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Nurix Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Nurix Therapeutics by 299.8% during the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after buying an additional 3,424 shares during the period. EntryPoint Capital LLC acquired a new stake in Nurix Therapeutics in the 1st quarter valued at approximately $123,000. China Universal Asset Management Co. Ltd. lifted its stake in Nurix Therapeutics by 67.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock worth $138,000 after purchasing an additional 3,793 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Nurix Therapeutics by 9.1% during the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock worth $176,000 after buying an additional 998 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Nurix Therapeutics in the second quarter valued at $201,000.

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.