Nurix Therapeutics (NASDAQ:NRIX) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Nurix Therapeutics (NASDAQ:NRIX) issued its quarterly earnings results on Tuesday. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05, Zacks reports. The business had revenue of $18.45 million for the quarter, compared to analyst estimates of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same period in the previous year, the business posted ($0.76) earnings per share.

Nurix Therapeutics Price Performance

NASDAQ:NRIX opened at $9.60 on Thursday. The firm has a market cap of $731.87 million, a PE ratio of -3.32 and a beta of 2.23. The firm has a 50 day simple moving average of $14.42 and a 200-day simple moving average of $19.39. Nurix Therapeutics has a 1-year low of $8.56 and a 1-year high of $29.56.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 5,825 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.49, for a total value of $84,404.25. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at approximately $488,660.76. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the sale, the insider now directly owns 55,937 shares in the company, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,326 shares of company stock worth $213,449. 9.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NRIX shares. HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, April 2nd. Morgan Stanley increased their price objective on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Nurix Therapeutics from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.44.

About Nurix Therapeutics

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.