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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $30.4615.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of Nurix Therapeutics in a research report on Thursday, April 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Tuesday, April 21st. Wells Fargo & Company decreased their target price on shares of Nurix Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Nurix Therapeutics in a report on Monday, April 27th. Finally, BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of Nurix Therapeutics in a report on Monday, May 18th.

Nurix Therapeutics Trading Up 0.5%

NRIX opened at $17.76 on Tuesday. The firm has a market capitalization of $1.84 billion, a PE ratio of -5.62 and a beta of 1.87. Nurix Therapeutics has a twelve month low of $8.19 and a twelve month high of $22.50. The firm’s 50-day moving average price is $16.22 and its 200 day moving average price is $16.74.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). The business had revenue of $6.25 million for the quarter, compared to analyst estimates 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, analysts predict that Nurix Therapeutics will post -2.94 earnings per share for the current fiscal year.

Insider Activity

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,214 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $16.65, for a total value of $53,513.10. Following the transaction, the insider directly owned 120,399 shares in the company, valued at $2,004,643.35. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Houte Hans Van sold 14,055 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer owned 37,592 shares in the company, valued at $624,027.20. The trade was 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. Insiders sold a total of 19,657 shares of company stock worth $326,586 over the last quarter. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Nurix Therapeutics by 32.5% in the 4th quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after acquiring an additional 1,460,736 shares during the period. General Atlantic L.P. purchased a new stake in shares of Nurix Therapeutics in the 4th quarter valued at approximately $92,899,000. Morgan Stanley raised its stake in shares of Nurix Therapeutics by 115.9% in the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after acquiring an additional 2,620,323 shares during the period. Vestal Point Capital LP raised its stake in shares of Nurix Therapeutics by 35.0% in the 4th quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock valued at $88,969,000 after acquiring an additional 1,215,000 shares during the period. Finally, Baker BROS. Advisors LP raised its stake in shares of Nurix Therapeutics by 20.0% in the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after acquiring an additional 776,431 shares during the period.

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.