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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $30.35.

NRIX has been the subject of a number of research reports. BTIG Research assumed coverage on Nurix Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $35.00 target price for the company. Robert W. Baird initiated coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price objective for the company. Royal Bank of Canada dropped their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Needham & Company LLC reissued a “buy” rating and set a $29.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. Finally, Oppenheimer boosted their price objective on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,368 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total value of $57,542.40. Following the completion of the sale, the chief financial officer now owns 37,270 shares of the company’s stock, valued at approximately $905,661. This represents a 5.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 3,437 shares of the business’s stock in a transaction 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 a total of 18,401 shares of company stock valued at $437,453 over the last 90 days. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of Nurix Therapeutics by 80.7% in the second quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock valued at $6,762,000 after purchasing an additional 144,700 shares during the last quarter. TD Asset Management Inc acquired a new position in Nurix Therapeutics in the 2nd quarter valued at about $593,000. Candriam S.C.A. raised its holdings 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 valued at $24,297,000 after acquiring an additional 272,136 shares during the period. Bank of New York Mellon Corp lifted its position in Nurix Therapeutics by 31.4% during the second quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock worth $4,365,000 after acquiring an additional 49,918 shares during the last quarter. Finally, FMR LLC lifted its position in Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after acquiring an additional 511,256 shares during the last quarter.

Nurix Therapeutics Trading Up 2.7 %

Shares of Nurix Therapeutics stock opened at $20.81 on Tuesday. Nurix Therapeutics has a 1-year low of $7.65 and a 1-year high of $29.56. The firm’s 50-day moving average price is $23.63 and its two-hundred day moving average price is $22.25. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -7.15 and a beta of 2.11.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. As a group, equities research analysts predict that Nurix Therapeutics will post -2.81 EPS 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.