Nurix Therapeutics, Inc. (NASDAQ:NRIX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been assigned an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $29.40.

Several brokerages have issued reports on NRIX. Royal Bank of Canada dropped their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Truist Financial started coverage on shares of Nurix Therapeutics in a research note on Wednesday, July 31st. They set a “buy” rating and a $36.00 target price on the stock. HC Wainwright lifted their price target on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price objective 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, Stephens restated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday, October 14th.

Insiders Place Their Bets

In other news, insider Christine Ring sold 9,870 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.01, for a total value of $246,848.70. Following the completion of the sale, the insider now owns 24,592 shares in the company, valued at $615,045.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Houte Hans Van sold 3,546 shares of Nurix Therapeutics stock in a transaction on Friday, November 1st. The stock was sold at an average price of $24.28, for a total transaction of $86,096.88. Following the sale, the chief financial officer now directly owns 33,724 shares in the company, valued at approximately $818,818.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christine Ring sold 9,870 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.01, for a total value of $246,848.70. Following the completion of the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $615,045.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,321 shares of company stock valued at $1,414,409 in the last three months. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in NRIX. Amalgamated Bank raised its position in Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after acquiring an additional 511 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Nurix Therapeutics by 77.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,388 shares of the company’s stock worth $278,000 after purchasing an additional 5,419 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Nurix Therapeutics by 31.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after purchasing an additional 559 shares during the period. International Assets Investment Management LLC lifted its stake in Nurix Therapeutics by 1,098.4% in the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Nurix Therapeutics during the third quarter valued at $3,152,000.

Nurix Therapeutics Stock Performance

NASDAQ:NRIX opened at $24.47 on Monday. Nurix Therapeutics has a 52 week low of $4.96 and a 52 week high of $27.60. The firm’s fifty day moving average is $24.22 and its 200-day moving average is $20.26. The firm has a market cap of $1.73 billion, a P/E ratio of -8.41 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting 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 firm had revenue of $12.59 million during the quarter, compared to analyst estimates of $13.85 million. As a group, sell-side analysts anticipate that Nurix Therapeutics will post -2.84 earnings per share for the current 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.