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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $27.00.

Several brokerages have recently issued reports on NRIX. JPMorgan Chase & Co. increased their price target 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. Oppenheimer upped their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Needham & Company LLC decreased their target price on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, July 12th. Barclays lifted their price objective on Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Piper Sandler restated an “overweight” rating and set a $35.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, June 5th.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.22, for a total value of $504,400.00. Following the completion of the sale, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Houte Hans Van sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the transaction, the chief financial officer now owns 31,002 shares of the company’s stock, valued at $781,870.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.43, for a total value of $123,436.80. Following the completion of the sale, the insider now directly owns 24,592 shares of the company’s stock, valued at approximately $527,006.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,815 shares of company stock valued at $1,424,931. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors have recently modified their holdings of the company. Driehaus Capital Management LLC acquired a new stake in Nurix Therapeutics in the second quarter valued at $26,778,000. Redmile Group LLC increased its holdings in Nurix Therapeutics by 37.7% during the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after acquiring an additional 1,226,497 shares in the last quarter. Samlyn Capital LLC acquired a new position in Nurix Therapeutics during the second quarter worth about $12,177,000. Ikarian Capital LLC purchased a new stake in shares of Nurix Therapeutics in the first quarter valued at about $4,410,000. Finally, Candriam S.C.A. grew its position in shares of Nurix Therapeutics by 30.5% in the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after purchasing an additional 272,136 shares during the last quarter.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock opened at $21.97 on Thursday. The company’s 50 day simple moving average is $23.16 and its 200-day simple moving average is $18.80. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $26.31. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -7.52 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly 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). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The firm had revenue of $12.09 million for the quarter, compared to analyst estimates of $19.35 million. Equities analysts expect that Nurix Therapeutics will post -2.95 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.