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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $26.69.

NRIX has been the topic of a number of analyst reports. HC Wainwright lifted their price objective on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus reissued a “buy” rating and set a $27.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, May 15th. Needham & Company LLC decreased their price target on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Barclays lifted their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Truist Financial initiated coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective for the company.

Nurix Therapeutics Stock Performance

NRIX opened at $22.28 on Wednesday. The firm has a 50 day moving average price of $20.40 and a 200 day moving average price of $15.86. The company has a market cap of $1.10 billion, a PE ratio of -7.63 and a beta of 2.22. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $24.38.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The firm had revenue of $12.09 million for the quarter, compared to analysts’ expectations of $19.35 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. On average, sell-side analysts predict that Nurix Therapeutics will post -2.86 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In related 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 transaction of $27,147.96. Following the sale, the insider now directly owns 19,838 shares in the company, valued at $337,444.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,477 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.45, for a total value of $74,581.65. Following the sale, the chief financial officer now directly owns 51,002 shares in the company, valued at $1,093,992.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christine Ring sold 1,596 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $17.01, for a total transaction of $27,147.96. Following the completion of the sale, the insider now owns 19,838 shares in the company, valued at $337,444.38. The disclosure for this sale can be found here. Insiders have sold a total of 24,791 shares of company stock worth $506,063 over the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its position in Nurix Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock worth $176,000 after acquiring an additional 998 shares in the last quarter. ClariVest Asset Management LLC raised its position in Nurix Therapeutics by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $1,318,000 after acquiring an additional 1,766 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Nurix Therapeutics by 3.7% in the first quarter. Public Employees Retirement System of Ohio now owns 50,838 shares of the company’s stock worth $747,000 after acquiring an additional 1,820 shares in the last quarter. Raymond James & Associates raised its position in Nurix Therapeutics by 3.1% in the fourth quarter. Raymond James & Associates now owns 101,006 shares of the company’s stock worth $1,042,000 after acquiring an additional 3,018 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Nurix Therapeutics by 299.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after purchasing an additional 3,424 shares in the last quarter.

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.