Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $29.50.

A number of equities research analysts have recently commented on NRIX shares. Royal Bank Of Canada raised their price target on Nurix Therapeutics from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Mizuho increased their target price on Nurix Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Nurix Therapeutics in a report on Thursday, January 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. Finally, HC Wainwright boosted their price objective on shares of Nurix Therapeutics from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, January 29th.

Insider Activity

In related news, CFO Houte Hans Van sold 3,661 shares of Nurix Therapeutics stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $60,772.60. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 4,895 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 value of $81,257.00. Following the transaction, the insider directly owned 83,672 shares in the company, valued at $1,388,955.20. This trade represents a 5.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.40% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted its holdings in shares of Nurix Therapeutics by 339.0% during the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after acquiring an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management acquired a new stake in Nurix Therapeutics during the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd bought a new stake in Nurix Therapeutics in the 4th quarter valued at $33,000. Wexford Capital LP bought a new stake in Nurix Therapeutics in the 3rd quarter valued at $41,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Nurix Therapeutics by 66.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,926 shares of the company’s stock valued at $93,000 after buying an additional 1,970 shares in the last quarter.

Nurix Therapeutics Price Performance

NRIX opened at $15.60 on Friday. The firm has a 50 day simple moving average of $18.32 and a 200 day simple moving average of $13.70. Nurix Therapeutics has a fifty-two week low of $8.18 and a fifty-two week high of $22.50. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -5.13 and a beta of 1.96.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Wednesday, January 28th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. The business had revenue of $13.58 million during 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%. As a group, analysts expect that Nurix Therapeutics will post -2.99 EPS for the current year.

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.