Nurix Therapeutics’ (NRIX) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $30.00 target price on the stock.

Several other brokerages have also recently weighed in on NRIX. HC Wainwright upped their price target on Nurix Therapeutics from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their target price on shares of Nurix Therapeutics from $21.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen lowered shares of Nurix Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 11th. Morgan Stanley set a $36.00 price objective on shares of Nurix Therapeutics and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.50.

Nurix Therapeutics Price Performance

NRIX stock opened at $16.52 on Thursday. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $22.50. The firm has a 50-day moving average of $18.50 and a 200 day moving average of $13.37. The company has a market cap of $1.27 billion, a P/E ratio of -5.43 and a beta of 1.93.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.02. The firm had revenue of $13.58 million for the quarter, compared to the consensus estimate of $13.41 million. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%. On average, equities research analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 4,895 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $81,257.00. Following the completion of the sale, the insider owned 83,672 shares of the company’s stock, valued at $1,388,955.20. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 3,661 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $60,772.60. Following the completion of the transaction, the chief financial officer owned 45,427 shares of the company’s stock, valued at approximately $754,088.20. The trade was a 7.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 14,840 shares of company stock worth $220,957. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Nurix Therapeutics by 84.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,391,638 shares of the company’s stock valued at $15,851,000 after buying an additional 635,668 shares during the last quarter. Geode Capital Management LLC raised its position in Nurix Therapeutics by 9.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,881,960 shares of the company’s stock worth $21,437,000 after buying an additional 157,592 shares during the last quarter. Affinity Asset Advisors LLC lifted its stake in Nurix Therapeutics by 19.4% during the 2nd quarter. Affinity Asset Advisors LLC now owns 967,620 shares of the company’s stock valued at $11,021,000 after acquiring an additional 156,951 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in shares of Nurix Therapeutics by 38.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 15,400 shares of the company’s stock valued at $175,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Bollard Group LLC purchased a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at about $1,398,000.

Trending Headlines about Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on NRIX to $30 and maintained an outperform view, signaling significant upside versus the current stock level. RBC increases price target to $30
• Positive Sentiment: Needham & Company reaffirmed a “buy” rating with a $26 target and BTIG reiterated a buy with a $30 target — multiple brokerages maintaining bullish outlooks provide support for upside expectations. Needham and BTIG ratings
• Negative Sentiment: Insiders sold shares on Jan. 30: Gwenn Hansen sold 4,895 shares at ~$16.60 and CFO Houte Hans Van sold 3,661 shares at ~$16.60. Insider sales can be viewed negatively by the market because they reduce insider ownership and may signal cashing out. SEC filings: Hansen Form 4 and Van Form 4
• Negative Sentiment: TipRanks highlighted a newly disclosed material foreign‑exchange risk for Nurix due to unhedged currency exposure, which could increase earnings volatility and raise capital‑markets uncertainty. TipRanks: FX risk disclosed

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.