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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.4615.

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Tuesday, April 21st. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a report on Monday, April 27th. Wells Fargo & Company decreased their target price on Nurix Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Stifel Nicolaus increased their target price on Nurix Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Royal Bank Of Canada increased their target price on Nurix Therapeutics from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $17.50 on Tuesday. The business’s fifty day moving average price is $16.03 and its two-hundred day moving average price is $16.62. Nurix Therapeutics has a fifty-two week low of $8.19 and a fifty-two week high of $22.50. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -5.54 and a beta of 1.87.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The company had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. Research analysts expect that Nurix Therapeutics will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00. Following the sale, the chief financial officer owned 37,592 shares in the company, valued at approximately $624,027.20. This represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 3,214 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $16.65, for a total value of $53,513.10. Following the sale, the insider owned 120,399 shares in the company, valued at $2,004,643.35. The trade was a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 19,657 shares of company stock worth $326,586 in the last 90 days. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC lifted its stake 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 valued at $29,000 after acquiring an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management bought a new position in Nurix Therapeutics in the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd bought a new position in Nurix Therapeutics in the fourth quarter valued at about $33,000. KBC Group NV bought a new position in Nurix Therapeutics in the first quarter valued at about $34,000. Finally, Wexford Capital LP bought a new position in Nurix Therapeutics in the third quarter valued at about $41,000.

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.