Nurix Therapeutics (NASDAQ:NRIX) Reaches New 1-Year High - Should You Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $26.50 and last traded at $26.08, with a volume of 305209 shares traded. The stock had previously closed at $25.22.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NRIX shares. Jefferies Financial Group assumed coverage on Nurix Therapeutics in a research note on Friday, October 11th. They set a "buy" rating and a $41.00 price target on the stock. Robert W. Baird initiated coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They issued an "outperform" rating and a $26.00 price target for the company. Stephens reiterated an "overweight" rating and set a $31.00 price target on shares of Nurix Therapeutics in a report on Monday, October 14th. Needham & Company LLC restated a "buy" rating and issued a $29.00 price objective on shares of Nurix Therapeutics in a report on Monday. Finally, Royal Bank of Canada lowered their target price on Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating for the company in a research report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Nurix Therapeutics Trading Up 4.2 %

The business has a 50-day moving average of $24.01 and a 200 day moving average of $19.88. The firm has a market capitalization of $1.29 billion, a PE ratio of -9.00 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting the consensus estimate of ($0.67). The firm had revenue of $12.59 million during the quarter, compared to analyst estimates of $13.85 million. Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. On average, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Insider Activity

In related news, insider Gwenn Hansen sold 3,408 shares of the firm's stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $70,443.36. Following the completion of the sale, the insider now owns 45,150 shares in the company, valued at approximately $933,250.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,408 shares of the firm's stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the sale, the insider now directly owns 45,150 shares of the company's stock, valued at $933,250.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christine Ring sold 5,760 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.43, for a total value of $123,436.80. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at $527,006.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,105 shares of company stock valued at $1,507,181 in the last ninety days. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently added to or reduced their stakes in NRIX. Wellington Management Group LLP increased its holdings in Nurix Therapeutics by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 205,324 shares of the company's stock worth $2,119,000 after acquiring an additional 60,271 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Nurix Therapeutics during the first quarter worth about $265,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Nurix Therapeutics by 27.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,904 shares of the company's stock worth $454,000 after acquiring an additional 6,628 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Nurix Therapeutics by 75.6% in the 1st quarter. Russell Investments Group Ltd. now owns 53,542 shares of the company's stock valued at $787,000 after acquiring an additional 23,044 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Nurix Therapeutics by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 11,978 shares of the company's stock valued at $176,000 after acquiring an additional 998 shares during the last quarter.

About Nurix Therapeutics

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.