HC Wainwright Reaffirms Buy Rating for Nurix Therapeutics (NASDAQ:NRIX)

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $32.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 107.25% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their price objective on shares of Nurix Therapeutics from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Wells Fargo & Company decreased their target price on shares of Nurix Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $26.00 target price on shares of Nurix Therapeutics in a research report on Thursday, January 29th. Mizuho upped their price target on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Finally, BTIG Research reiterated a “buy” rating and set a $30.00 price target on shares of Nurix Therapeutics in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.54.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $15.44 on Tuesday. The firm has a market cap of $1.59 billion, a PE ratio of -5.08 and a beta of 1.96. The stock’s fifty day moving average price is $16.40 and its two-hundred day moving average price is $14.76. Nurix Therapeutics has a one year low of $8.18 and a one year high of $22.50.

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

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $16.60, for a total value 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. This represents 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 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 in the company, valued at approximately $1,388,955.20. The trade was a 5.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. General Atlantic L.P. acquired a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $92,899,000. Morgan Stanley increased its holdings in shares of Nurix Therapeutics by 115.9% during the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after buying an additional 2,620,323 shares in the last quarter. Rubric Capital Management LP acquired a new position in shares of Nurix Therapeutics during the fourth quarter worth $46,930,000. Braidwell LP bought a new position in shares of Nurix Therapeutics in the 4th quarter valued at $41,428,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Nurix Therapeutics by 195.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,248,361 shares of the company’s stock valued at $61,622,000 after acquiring an additional 2,149,268 shares during the last quarter.

About Nurix Therapeutics

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.