Nurix Therapeutics (NASDAQ:NRIX) Releases Earnings Results, Beats Estimates By $0.05 EPS

Nurix Therapeutics (NASDAQ:NRIX) announced its earnings results on Tuesday. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05, Zacks reports. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The company had revenue of $18.45 million for the quarter, compared to analyst estimates of $12.78 million. During the same period in the previous year, the firm earned ($0.76) earnings per share.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $9.26 on Wednesday. Nurix Therapeutics has a one year low of $8.60 and a one year high of $29.56. The company’s fifty day moving average price is $14.83 and its two-hundred day moving average price is $19.56. The company has a market capitalization of $705.95 million, a price-to-earnings ratio of -3.20 and a beta of 2.23.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the sale, the chief financial officer now owns 39,549 shares of the company’s stock, valued at $785,047.65. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the transaction, the insider now directly owns 55,937 shares in the company, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,326 shares of company stock worth $213,449. 9.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NRIX has been the topic of several recent analyst reports. Leerink Partnrs upgraded Nurix Therapeutics to a “hold” rating in a report on Monday, March 17th. Royal Bank of Canada upped 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. JPMorgan Chase & Co. lowered their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. BTIG Research started coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Morgan Stanley raised their target price on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.88.

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.