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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been assigned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.20.

Several equities research analysts have recently issued reports on NRIX shares. Robert W. Baird lifted their price objective 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. BTIG Research boosted their price target on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of Nurix Therapeutics in a research report on Monday, June 15th. Truist Financial boosted their price target on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Tuesday, April 21st.

Insiders Place Their Bets

In related news, insider Gwenn Hansen sold 5,394 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were 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. The trade was a 4.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of the business’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 completion of the sale, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at approximately $624,027.20. This trade represents a 27.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 25,051 shares of company stock valued at $434,466. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 worth $593,000 after buying an additional 5,286 shares during the last quarter. Millennium Management LLC raised its stake in Nurix Therapeutics by 106.2% during the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock valued at $10,388,000 after acquiring an additional 450,262 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Nurix Therapeutics by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock worth $6,029,000 after acquiring an additional 44,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Nurix Therapeutics by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock worth $1,895,000 after acquiring an additional 12,817 shares during the period. Finally, Creative Planning purchased a new position in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $187,000.

Nurix Therapeutics Trading Up 2.0%

Nurix Therapeutics stock opened at $22.90 on Friday. The stock has a market cap of $2.37 billion, a P/E ratio of -7.25 and a beta of 1.86. The company has a fifty day simple moving average of $16.98 and a 200-day simple moving average of $17.03. Nurix Therapeutics has a 12-month low of $8.19 and a 12-month high of $23.72.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.03). The firm had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $14.25 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%. As a group, sell-side analysts forecast that Nurix Therapeutics will post -2.88 earnings per share for the current fiscal year.

Nurix Therapeutics Company Profile

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.