Nurix Therapeutics (NASDAQ:NRIX) Coverage Initiated by Analysts at BTIG Research

BTIG Research assumed coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a report released on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $35.00 price target on the stock.

A number of other brokerages have also weighed in on NRIX. Robert W. Baird assumed coverage on Nurix Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price objective on the stock. Royal Bank of Canada lowered their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. HC Wainwright increased their price objective on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the company a “buy” rating in a report on Monday, October 21st. Stephens reissued an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday, October 14th. Finally, BMO Capital Markets assumed coverage on Nurix Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.35.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $20.56 on Tuesday. The business’s 50 day moving average price is $23.68 and its 200-day moving average price is $22.09. Nurix Therapeutics has a 1 year low of $7.65 and a 1 year high of $29.56. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -7.07 and a beta of 2.11.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting the consensus estimate of ($0.67). The company had revenue of $12.59 million during the quarter, compared to analyst estimates of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. On average, sell-side analysts expect that Nurix Therapeutics will post -2.81 earnings per share for the current year.

Insider Activity

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,437 shares of Nurix Therapeutics stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total value of $83,519.10. Following the completion of the transaction, the insider now directly owns 50,670 shares of the company’s stock, valued at $1,231,281. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Houte Hans Van sold 2,368 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total transaction of $57,542.40. Following the sale, the chief financial officer now owns 37,270 shares in the company, valued at $905,661. This trade represents a 5.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,401 shares of company stock valued at $437,453. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NRIX. Franklin Resources Inc. lifted its holdings in Nurix Therapeutics by 52.4% during the 3rd quarter. Franklin Resources Inc. now owns 123,101 shares of the company’s stock worth $2,766,000 after buying an additional 42,315 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Nurix Therapeutics by 8.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company’s stock worth $675,000 after acquiring an additional 2,329 shares during the period. Geode Capital Management LLC increased its position in shares of Nurix Therapeutics by 9.6% during the third quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company’s stock worth $32,544,000 after acquiring an additional 126,306 shares during the period. Barclays PLC raised its stake in shares of Nurix Therapeutics by 77.9% in the third quarter. Barclays PLC now owns 128,344 shares of the company’s stock valued at $2,884,000 after acquiring an additional 56,190 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Nurix Therapeutics in the third quarter valued at $346,000.

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.