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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $27.7333.

A number of equities research analysts have weighed in on the stock. Truist Financial began coverage on shares of Nurix Therapeutics in a research report on Monday, November 24th. They set a “buy” rating and a $30.00 price target for the company. Mizuho lifted their target price on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of Nurix Therapeutics in a research report on Monday, December 8th. Piper Sandler lowered their price target on Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Finally, BTIG Research lifted their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th.

Insider Activity

In other news, CFO Houte Hans Van sold 6,284 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $12.56, for a total value of $78,927.04. Following the completion of the transaction, the chief financial officer owned 37,592 shares of the company’s stock, valued at approximately $472,155.52. This trade represents a 14.32% 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 4,087 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $12.80, for a total transaction of $52,313.60. Following the sale, the insider directly owned 76,751 shares in the company, valued at approximately $982,412.80. The trade was a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 13,501 shares of company stock valued at $171,305. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently modified their holdings of the business. Wexford Capital LP acquired a new stake in shares of Nurix Therapeutics in the third quarter valued at $41,000. Tower Research Capital LLC TRC increased its stake in shares of Nurix Therapeutics by 118.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock worth $73,000 after buying an additional 3,475 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Nurix Therapeutics in the 3rd quarter valued at approximately $100,000. 49 Wealth Management LLC acquired a new stake in Nurix Therapeutics in the third quarter valued at $108,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nurix Therapeutics during the 3rd quarter worth about $109,000.

Nurix Therapeutics Stock Down 0.3%

NASDAQ:NRIX opened at $18.97 on Friday. Nurix Therapeutics has a 52 week low of $8.18 and a 52 week high of $22.50. The stock’s fifty day moving average is $15.94 and its two-hundred day moving average is $12.38. The company has a market capitalization of $1.46 billion, a P/E ratio of -6.39 and a beta of 1.87.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The business had revenue of $7.89 million for the quarter, compared to analysts’ expectations of $16.06 million. Nurix Therapeutics had a negative return on equity of 53.57% and a negative net margin of 292.50%. Sell-side analysts anticipate that Nurix Therapeutics will post -2.99 earnings per share 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.