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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $31.12.

Several research firms have recently weighed in on NRIX. Stephens restated an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. HC Wainwright upped their price target on Nurix Therapeutics from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. BMO Capital Markets initiated coverage on Nurix Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th.

Nurix Therapeutics Price Performance

Shares of Nurix Therapeutics stock opened at $18.88 on Wednesday. Nurix Therapeutics has a 1-year low of $8.11 and a 1-year high of $29.56. The business’s fifty day moving average price is $19.78 and its two-hundred day moving average price is $22.27. The company has a market capitalization of $1.43 billion, a P/E ratio of -6.53 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $55,798.35. Following the completion of the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at approximately $785,047.65. The trade was a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new position in Nurix Therapeutics during the second quarter valued at approximately $601,000. AQR Capital Management LLC raised its holdings in shares of Nurix Therapeutics by 76.8% during the 2nd quarter. AQR Capital Management LLC now owns 21,296 shares of the company’s stock valued at $444,000 after purchasing an additional 9,254 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Nurix Therapeutics by 60.2% during the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock valued at $12,514,000 after purchasing an additional 225,374 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Nurix Therapeutics by 25.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,942 shares of the company’s stock valued at $479,000 after purchasing an additional 4,583 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Nurix Therapeutics in the third quarter worth $3,152,000.

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.