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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given an average recommendation of “Moderate Buy” by the fifteen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $29.40.

A number of brokerages recently issued reports on NRIX. Jefferies Financial Group began coverage on Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 price target for the company. Stephens restated an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday, October 14th. HC Wainwright raised their price target on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. UBS Group assumed coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $35.00 target price for the company. Finally, Truist Financial assumed coverage on Nurix Therapeutics in a research report on Wednesday, July 31st. They set a “buy” rating and a $36.00 target price for the company.

Nurix Therapeutics Stock Performance

NASDAQ NRIX opened at $21.79 on Friday. The company has a market capitalization of $1.54 billion, a P/E ratio of -7.49 and a beta of 2.20. Nurix Therapeutics has a one year low of $5.65 and a one year high of $29.56. The stock has a 50 day moving average price of $24.24 and a 200-day moving average price of $21.70.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.67). The company had revenue of $12.59 million during the quarter, compared to the consensus estimate of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. As a group, equities analysts predict that Nurix Therapeutics will post -2.81 EPS for the current fiscal year.

Insider Activity

In other news, insider Christine Ring sold 9,050 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $24.94, for a total transaction of $225,707.00. Following the transaction, the insider now owns 24,592 shares in the company, valued at approximately $613,324.48. This trade represents a 26.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Houte Hans Van sold 2,368 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $57,542.40. Following the transaction, the chief financial officer now owns 37,270 shares in the company, valued at approximately $905,661. This represents a 5.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,451 shares of company stock worth $663,160. Company insiders own 9.80% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRIX. Driehaus Capital Management LLC purchased a new position in Nurix Therapeutics in the second quarter valued at about $26,778,000. Redmile Group LLC grew its stake in Nurix Therapeutics by 37.7% in the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after purchasing an additional 1,226,497 shares during the last quarter. Samlyn Capital LLC acquired a new stake in Nurix Therapeutics in the second quarter worth about $12,177,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Nurix Therapeutics in the third quarter worth about $12,432,000. Finally, FMR LLC boosted its holdings in Nurix Therapeutics by 675.9% in the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after acquiring an additional 511,256 shares in the last quarter.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.