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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $30.35.

A number of brokerages have recently issued reports on NRIX. HC Wainwright increased their price target on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada cut their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 14th. UBS Group began 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. Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a report on Monday, October 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $29.00 target price on shares of Nurix Therapeutics in a report on Tuesday, December 10th.

Nurix Therapeutics Stock Performance

Shares of Nurix Therapeutics stock opened at $18.24 on Friday. The company has a market cap of $1.29 billion, a P/E ratio of -6.27 and a beta of 2.14. Nurix Therapeutics has a one year low of $7.65 and a one year high of $29.56. The firm has a fifty day moving average of $21.69 and a two-hundred day moving average of $22.49.

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

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 3,546 shares of the firm’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 sale, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at approximately $818,818.72. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine Ring sold 3,290 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $614,800. This trade represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,641 shares of company stock valued at $309,408. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $4,365,000 after purchasing an additional 49,918 shares during the period. Rhumbline Advisers raised its stake in shares of Nurix Therapeutics by 14.2% during the second quarter. Rhumbline Advisers now owns 88,781 shares of the company’s stock valued at $1,853,000 after purchasing an additional 11,010 shares during the period. TD Asset Management Inc purchased a new stake in shares of Nurix Therapeutics during the second quarter valued at approximately $593,000. Arizona State Retirement System purchased a new stake in shares of Nurix Therapeutics during the second quarter valued at approximately $295,000. Finally, Renaissance Technologies LLC raised its stake in shares of Nurix Therapeutics by 80.7% during 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 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.