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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $34.0769.

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Nurix Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Robert W. Baird boosted their target price on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Finally, Royal Bank Of Canada increased their price target on shares of Nurix Therapeutics from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $22.98 on Wednesday. The business’s 50-day moving average price is $18.69 and its two-hundred day moving average price is $17.41. Nurix Therapeutics has a one year low of $8.19 and a one year high of $25.08. The company has a market capitalization of $2.38 billion, a P/E ratio of -6.66 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. On average, equities analysts anticipate that Nurix Therapeutics will post -2.82 EPS for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00. Following the transaction, the chief financial officer directly owned 37,592 shares in the company, valued at $624,027.20. This trade represents a 27.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the sale, the insider directly owned 115,005 shares of the company’s stock, valued at $2,300,100. This represents a 4.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,051 shares of company stock valued at $434,466 over the last quarter. 6.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its stake in shares of Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock valued at $29,000 after buying an additional 1,190 shares during the period. California State Teachers Retirement System raised its holdings in Nurix Therapeutics by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company’s stock valued at $1,290,000 after acquiring an additional 1,476 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new position in Nurix Therapeutics in the 4th quarter valued at approximately $31,000. Royal Bank of Canada lifted its position in shares of Nurix Therapeutics by 17.6% in the 4th quarter. Royal Bank of Canada now owns 10,842 shares of the company’s stock worth $206,000 after acquiring an additional 1,623 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Nurix Therapeutics by 8.2% in the 4th quarter. Arizona State Retirement System now owns 21,990 shares of the company’s stock worth $417,000 after acquiring an additional 1,674 shares during the period.

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.