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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.44.

A number of research analysts have recently commented on NRIX shares. Leerink Partnrs raised Nurix Therapeutics to a “hold” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. reduced their price objective on Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Leerink Partners assumed coverage on Nurix Therapeutics in a research note on Monday, March 17th. They set a “market perform” rating and a $16.00 price objective on the stock. Stifel Nicolaus cut their price target on shares of Nurix Therapeutics from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Royal Bank of Canada boosted their price target on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 5,825 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.49, for a total value of $84,404.25. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at approximately $488,660.76. This represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gwenn Hansen sold 3,377 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $38,835.50. Following the transaction, the insider now directly owns 61,516 shares in the company, valued at approximately $707,434. The trade was a 5.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,838 shares of company stock valued at $221,500. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in Nurix Therapeutics by 144.7% during the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock worth $27,000 after acquiring an additional 842 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth $28,000. Aquatic Capital Management LLC purchased a new position in Nurix Therapeutics in the fourth quarter valued at about $87,000. Exchange Traded Concepts LLC raised its holdings in Nurix Therapeutics by 38.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company’s stock worth $109,000 after purchasing an additional 2,562 shares during the last quarter. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Nurix Therapeutics during the 1st quarter worth $122,000.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $9.46 on Friday. The business has a 50 day simple moving average of $11.15 and a 200 day simple moving average of $17.01. The stock has a market capitalization of $721.19 million, a P/E ratio of -3.27 and a beta of 2.23. Nurix Therapeutics has a one year low of $8.18 and a one year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The business had revenue of $18.45 million for the quarter, compared to analyst estimates of $12.78 million. During the same quarter in the prior year, the company earned ($0.76) earnings per share. Equities analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current year.

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.