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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $32.20.

Several equities analysts have recently commented on NRIX shares. 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 report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of Nurix Therapeutics in a research note on Monday, June 15th. Jefferies Financial Group upped their price target on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, June 8th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, June 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Nurix Therapeutics

A number of hedge funds have recently bought and sold shares of NRIX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Nurix Therapeutics by 11.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock valued at $593,000 after purchasing an additional 5,286 shares in the last quarter. Millennium Management LLC raised its stake in Nurix Therapeutics by 106.2% during the first quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock valued at $10,388,000 after purchasing an additional 450,262 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Nurix Therapeutics by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock valued at $6,029,000 after purchasing an additional 44,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Nurix Therapeutics by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock valued at $1,895,000 after purchasing an additional 12,817 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Nurix Therapeutics in the second quarter valued at $187,000.

Nurix Therapeutics Stock Performance

NRIX stock opened at $17.55 on Friday. Nurix Therapeutics has a one year low of $8.19 and a one year high of $22.50. The company’s fifty day moving average price is $16.57 and its 200-day moving average price is $16.92. The company has a market capitalization of $1.81 billion, a PE ratio of -5.55 and a beta of 1.86.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Wednesday, April 8th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.03). Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%.The company had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $14.25 million. On average, research analysts predict that Nurix Therapeutics will post -2.88 EPS for the current fiscal year.

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.