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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.88.

A number of research firms have issued reports on NRIX. Leerink Partners initiated coverage on shares of Nurix Therapeutics in a report on Monday, March 17th. They set a “market perform” rating and a $16.00 target price on the stock. Leerink Partnrs raised Nurix Therapeutics to a “hold” rating in a research report on Monday, March 17th. Needham & Company LLC decreased their target price on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Royal Bank of Canada upped their price target on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets assumed coverage on Nurix Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $35.00 price objective for the company.

Nurix Therapeutics Trading Up 1.2 %

Shares of NASDAQ NRIX opened at $12.73 on Thursday. The stock has a market capitalization of $966.04 million, a PE ratio of -4.40 and a beta of 2.18. Nurix Therapeutics has a twelve month low of $11.90 and a twelve month high of $29.56. The stock has a fifty day simple moving average of $16.62 and a 200-day simple moving average of $20.53.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share 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%. On average, equities analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Nurix Therapeutics

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in Nurix Therapeutics by 2.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company’s stock worth $585,000 after purchasing an additional 642 shares during the period. Corebridge Financial Inc. raised its holdings in shares of Nurix Therapeutics by 2.3% in the fourth quarter. Corebridge Financial Inc. now owns 34,907 shares of the company’s stock valued at $658,000 after buying an additional 770 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Nurix Therapeutics by 0.7% during the fourth quarter. Kennedy Capital Management LLC now owns 114,623 shares of the company’s stock worth $2,159,000 after buying an additional 785 shares during the period. US Bancorp DE grew 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 worth $27,000 after buying an additional 842 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in Nurix Therapeutics by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after acquiring an additional 877 shares during the period.

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.