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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $29.40.

Several equities analysts have issued reports on the company. HC Wainwright boosted their target price on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Stephens reaffirmed an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a report on Monday, October 14th. Jefferies Financial Group initiated coverage on Nurix Therapeutics in a report on Friday, October 11th. They issued a “buy” rating and a $41.00 target price for the company. Royal Bank of Canada lowered their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Finally, UBS Group initiated coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $35.00 price target for the company.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $22.37 on Friday. Nurix Therapeutics has a 1-year low of $5.65 and a 1-year high of $29.56. The stock has a market cap of $1.58 billion, a PE ratio of -7.69 and a beta of 2.20. The stock’s fifty day moving average is $24.43 and its two-hundred day moving average is $21.42.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS 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 company had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. On average, research analysts expect that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 3,546 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $24.28, for a total value of $86,096.88. Following the completion of the sale, the chief financial officer now owns 33,724 shares in the company, valued at approximately $818,818.72. This represents a 9.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 3,437 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total transaction of $83,519.10. Following the transaction, the insider now owns 50,670 shares in the company, valued at approximately $1,231,281. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,321 shares of company stock worth $1,414,409 in the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Redmile Group LLC lifted its position in Nurix Therapeutics by 37.7% in 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 in the last quarter. Wellington Management Group LLP increased its stake in shares of Nurix Therapeutics by 8.8% in the third quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock worth $78,243,000 after acquiring an additional 280,240 shares during the last quarter. Geode Capital Management LLC boosted its position in Nurix Therapeutics by 9.6% during the third quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company’s stock valued at $32,544,000 after purchasing an additional 126,306 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Nurix Therapeutics in the second quarter valued at about $26,778,000. Finally, Candriam S.C.A. increased its position in Nurix Therapeutics by 30.5% in the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after purchasing an additional 272,136 shares during 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.