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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $25.10.

A number of brokerages have recently weighed in on NRIX. Piper Sandler restated an “overweight” rating and issued a $35.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, June 5th. Needham & Company LLC restated a “buy” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a report on Monday, June 17th. JPMorgan Chase & Co. lifted their price target on shares of Nurix Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. HC Wainwright lifted their price target on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Robert W. Baird lifted their price target on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th.

Nurix Therapeutics Trading Up 0.6 %

Shares of NRIX opened at $20.87 on Tuesday. Nurix Therapeutics has a twelve month low of $4.22 and a twelve month high of $22.44. The firm’s fifty day simple moving average is $15.79 and its 200-day simple moving average is $12.86. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -7.85 and a beta of 2.17.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The business had revenue of $16.59 million for the quarter, compared to analyst estimates of $14.58 million. On average, analysts predict that Nurix Therapeutics will post -2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the transaction, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at approximately $876,712.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Christine Ring sold 1,596 shares of Nurix Therapeutics stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the sale, the insider now owns 19,838 shares of the company’s stock, valued at $337,444.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Houte Hans Van sold 3,499 shares of Nurix Therapeutics stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at approximately $876,712.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,789 shares of company stock valued at $152,023. Insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NRIX. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Nurix Therapeutics by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after acquiring an additional 4,367 shares in the last quarter. Quest Partners LLC purchased a new stake in Nurix Therapeutics during the fourth quarter worth about $59,000. EntryPoint Capital LLC purchased a new stake in Nurix Therapeutics during the first quarter worth about $123,000. Jump Financial LLC purchased a new stake in Nurix Therapeutics during the fourth quarter worth about $158,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Nurix Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock worth $163,000 after buying an additional 4,012 shares in the last quarter.

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.