Nurix Therapeutics (NASDAQ:NRIX) Posts Quarterly Earnings Results, Beats Estimates By $5.33 EPS

Nurix Therapeutics (NASDAQ:NRIX) posted its earnings results on Monday. The company reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $5.33, Zacks reports. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.

Nurix Therapeutics Stock Performance

Shares of NRIX stock traded down $0.19 during mid-day trading on Monday, reaching $22.16. 1,432,317 shares of the company’s stock traded hands, compared to its average volume of 1,467,827. The firm has a market capitalization of $2.30 billion, a PE ratio of -6.42 and a beta of 1.82. The firm has a 50 day moving average price of $25.24 and a two-hundred day moving average price of $20.90. Nurix Therapeutics has a 12 month low of $9.00 and a 12 month high of $28.23.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 4,356 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $25.00, for a total transaction of $108,900.00. Following the completion of the transaction, the insider directly owned 117,227 shares of the company’s stock, valued at approximately $2,930,675. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the sale, the chief financial officer owned 40,166 shares in the company, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 21,372 shares of company stock valued at $518,463. Company insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Nurix Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. UBS Group increased their price objective on Nurix Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. BTIG Research reaffirmed a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Finally, Mizuho upped their price target on Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.21.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.