Nurix Therapeutics’ (NRIX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $36.00 price target on the stock.

Several other brokerages have also issued reports on NRIX. Leerink Partners initiated coverage on shares of Nurix Therapeutics in a report on Monday, March 17th. They issued a “market perform” rating and a $16.00 price objective on the stock. Needham & Company LLC reduced their price target on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Leerink Partnrs raised shares of Nurix Therapeutics to a “hold” rating in a research report on Monday, March 17th. Stephens reiterated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Finally, BTIG Research initiated coverage on Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $9.69 on Wednesday. The company has a market capitalization of $738.73 million, a P/E ratio of -3.35 and a beta of 2.23. The company has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $19.93. Nurix Therapeutics has a 1 year low of $9.45 and a 1 year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. As a group, research analysts expect that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the completion of the sale, the chief financial officer now directly owns 39,549 shares of the company’s stock, valued at approximately $785,047.65. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the sale, the insider now owns 55,937 shares of the company’s stock, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock worth $213,449 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRIX. FMR LLC grew its stake in shares of Nurix Therapeutics by 1,711.9% in the 4th quarter. FMR LLC now owns 10,634,231 shares of the company’s stock valued at $200,349,000 after purchasing an additional 10,047,329 shares during the last quarter. Vanguard Group Inc. grew its position in Nurix Therapeutics by 8.3% in the 4th quarter. Vanguard Group Inc. now owns 4,345,266 shares of the company’s stock valued at $81,865,000 after buying an additional 333,452 shares during the last quarter. Wellington Management Group LLP increased its stake in Nurix Therapeutics by 3.0% in the 4th quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company’s stock valued at $67,572,000 after buying an additional 104,500 shares during the period. Soleus Capital Management L.P. raised its position in Nurix Therapeutics by 97.3% during the 4th quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company’s stock worth $39,617,000 after buying an additional 1,036,999 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Nurix Therapeutics by 9.5% in the 4th quarter. Geode Capital Management LLC now owns 1,585,127 shares of the company’s stock worth $29,870,000 after acquiring an additional 137,087 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.