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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $30.18.

A number of research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on shares of Nurix Therapeutics from $32.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus decreased their target price on shares of Nurix Therapeutics from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reiterated a “buy” rating and issued a $27.00 price target on shares of Nurix Therapeutics in a report on Tuesday, April 29th. Finally, Leerink Partnrs raised Nurix Therapeutics to a “hold” rating in a research note on Monday, March 17th.

Nurix Therapeutics Stock Performance

NRIX stock opened at $12.73 on Friday. The stock’s 50 day moving average price is $11.12 and its 200 day moving average price is $14.10. The firm has a market cap of $970.54 million, a P/E ratio of -4.55 and a beta of 2.15. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.05. The business had revenue of $18.45 million for the quarter, compared to the consensus estimate of $12.78 million. Nurix Therapeutics had a negative return on equity of 47.49% and a negative net margin of 369.40%. During the same period in the prior year, the business earned ($0.76) earnings per share. On average, research analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,198 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $11.33, for a total transaction of $70,223.34. Following the completion of the sale, the chief financial officer owned 33,724 shares of the company’s stock, valued at approximately $382,092.92. The trade was a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 3,377 shares of the firm’s 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 completion of the transaction, the insider owned 61,516 shares in the company, valued at approximately $707,434. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,013 shares of company stock worth $137,096 in the last quarter. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NRIX. The Manufacturers Life Insurance Company increased its holdings in Nurix Therapeutics by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company’s stock valued at $585,000 after purchasing an additional 642 shares in the last quarter. Corebridge Financial Inc. boosted its position in shares of Nurix Therapeutics by 2.3% in the fourth quarter. Corebridge Financial Inc. now owns 34,907 shares of the company’s stock worth $658,000 after buying an additional 770 shares during the period. Kennedy Capital Management LLC boosted its position in shares of Nurix Therapeutics by 0.7% in the fourth quarter. Kennedy Capital Management LLC now owns 114,623 shares of the company’s stock worth $2,159,000 after buying an additional 785 shares during the period. US Bancorp DE grew its stake in shares of Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after buying an additional 842 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after buying an additional 877 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.