Leerink Partners Initiates Coverage on Nurix Therapeutics (NASDAQ:NRIX)

Leerink Partners began coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a report published on Monday morning, MarketBeat Ratings reports. The firm issued a market perform rating and a $16.00 price target on the stock.

Several other equities analysts also recently commented on the company. HC Wainwright increased their price target on Nurix Therapeutics from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley raised their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus raised their price objective on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC lowered their price objective on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Nurix Therapeutics Stock Up 2.5 %

Shares of NRIX stock opened at $13.93 on Monday. Nurix Therapeutics has a 12 month low of $11.90 and a 12 month high of $29.56. The business’s 50 day moving average is $17.43 and its two-hundred day moving average is $21.06. The company has a market cap of $1.06 billion, a PE ratio of -4.82 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. As a group, equities analysts expect that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Houte Hans Van sold 5,825 shares of Nurix Therapeutics stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total value of $84,404.25. Following the transaction, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at approximately $488,660.76. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock valued at $213,449 over the last ninety days. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NRIX. US Bancorp DE lifted its holdings in shares of Nurix Therapeutics by 144.7% during the fourth quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after acquiring an additional 842 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Nurix Therapeutics in the fourth quarter valued at $28,000. Amalgamated Bank increased its stake in shares of Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after buying an additional 511 shares in the last quarter. Quarry LP increased its stake in shares of Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after buying an additional 2,435 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Nurix Therapeutics in the fourth quarter valued at $87,000.

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.