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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $30.35.

A number of research analysts have recently commented on the company. BTIG Research initiated coverage on Nurix Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $35.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. HC Wainwright increased their price target on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on shares of Nurix Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 target price for the company.

Insider Activity

In other news, CFO Houte Hans Van sold 2,368 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $57,542.40. Following the completion of the transaction, the chief financial officer now owns 37,270 shares in the company, valued at approximately $905,661. The trade was a 5.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total value of $128,044.80. Following the completion of the transaction, the insider now directly owns 24,592 shares in the company, valued at $546,680.16. The trade was a 18.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,401 shares of company stock worth $437,453. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in Nurix Therapeutics by 80.7% during the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after buying an additional 144,700 shares in the last quarter. TD Asset Management Inc acquired a new position in shares of Nurix Therapeutics during the second quarter worth approximately $593,000. Candriam S.C.A. grew its stake in shares of Nurix Therapeutics by 30.5% during the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after purchasing an additional 272,136 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Nurix Therapeutics by 31.4% in the second quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock valued at $4,365,000 after purchasing an additional 49,918 shares in the last quarter. Finally, FMR LLC raised its position in Nurix Therapeutics by 675.9% in the 3rd quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after purchasing an additional 511,256 shares during the last quarter.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $19.83 on Tuesday. The company has a market capitalization of $1.40 billion, a PE ratio of -6.81 and a beta of 2.11. Nurix Therapeutics has a one year low of $7.65 and a one year high of $29.56. The company’s fifty day moving average price is $23.46 and its 200 day moving average price is $22.33.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. Analysts anticipate that Nurix Therapeutics will post -2.81 earnings per share for the current year.

Nurix Therapeutics Company Profile

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.