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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $30.5385.

A number of research firms recently issued reports on NRIX. Royal Bank Of Canada upped their target price on Nurix Therapeutics from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Piper Sandler raised their price target on Nurix Therapeutics from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of Nurix Therapeutics in a report on Thursday, January 29th. Mizuho upped their price objective on Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Finally, Morgan Stanley set a $36.00 price objective on Nurix Therapeutics and gave the company an “overweight” rating in a research report on Thursday, January 8th.

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $15.51 on Monday. The stock has a market cap of $1.60 billion, a P/E ratio of -5.10 and a beta of 1.97. The company has a 50-day moving average of $15.89 and a two-hundred day moving average of $15.11. Nurix Therapeutics has a 12-month low of $8.18 and a 12-month high of $22.50.

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

Insider Activity

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,895 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were 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 approximately $1,388,955.20. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Houte Hans Van sold 3,661 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $60,772.60. Following the sale, the chief financial officer directly owned 45,427 shares in the company, valued at $754,088.20. This represents a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 7.40% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Nurix Therapeutics by 32.5% in the 4th quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock worth $112,862,000 after acquiring an additional 1,460,736 shares during the period. General Atlantic L.P. purchased a new position in shares of Nurix Therapeutics during the 4th quarter worth $92,899,000. Morgan Stanley lifted its stake in shares of Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after purchasing an additional 2,620,323 shares during the period. Vestal Point Capital LP boosted its holdings in shares of Nurix Therapeutics by 35.0% during the fourth quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock worth $88,969,000 after purchasing an additional 1,215,000 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its holdings in shares of Nurix Therapeutics by 20.0% during the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock worth $88,373,000 after purchasing an additional 776,431 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.