HC Wainwright Has Bullish Estimate for NRIX FY2024 Earnings

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Free Report) - Investment analysts at HC Wainwright raised their FY2024 earnings per share estimates for shares of Nurix Therapeutics in a research note issued to investors on Monday, October 21st. HC Wainwright analyst R. Burns now forecasts that the company will post earnings of ($2.80) per share for the year, up from their previous forecast of ($2.87). HC Wainwright currently has a "Buy" rating and a $30.00 target price on the stock. The consensus estimate for Nurix Therapeutics' current full-year earnings is ($2.95) per share. HC Wainwright also issued estimates for Nurix Therapeutics' Q4 2024 earnings at ($0.67) EPS, Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.69) EPS, Q3 2025 earnings at ($0.71) EPS, Q4 2025 earnings at ($0.73) EPS and FY2025 earnings at ($2.81) EPS.

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 analysts' consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The business had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million.

NRIX has been the subject of a number of other research reports. Royal Bank of Canada lowered their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday, July 15th. Needham & Company LLC reiterated a "buy" rating and set a $29.00 price objective on shares of Nurix Therapeutics in a report on Monday. Stephens restated an "overweight" rating and issued a $31.00 target price on shares of Nurix Therapeutics in a report on Monday, October 14th. Finally, Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They set a "buy" rating and a $41.00 price target on the stock. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $29.00.

Nurix Therapeutics Trading Down 2.9 %

Shares of NASDAQ NRIX traded down $0.74 during midday trading on Wednesday, reaching $24.78. 280,582 shares of the stock were exchanged, compared to its average volume of 890,415. The stock has a 50 day moving average price of $23.89 and a 200-day moving average price of $19.81. The company has a market capitalization of $1.22 billion, a P/E ratio of -8.49 and a beta of 2.22. Nurix Therapeutics has a 52-week low of $4.22 and a 52-week high of $26.43.

Insider Activity at Nurix Therapeutics

In related news, insider Christine Ring sold 5,760 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.43, for a total transaction of $123,436.80. Following the sale, the insider now directly owns 24,592 shares in the company, valued at approximately $527,006.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Christine Ring sold 5,760 shares of the firm's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.43, for a total transaction of $123,436.80. Following the completion of the sale, the insider now directly owns 24,592 shares of the company's stock, valued at approximately $527,006.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the sale, the chief financial officer now directly owns 54,479 shares in the company, valued at $1,126,080.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 63,105 shares of company stock worth $1,507,181. Corporate insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Redmile Group LLC raised its holdings in Nurix Therapeutics by 37.7% in the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company's stock valued at $65,900,000 after acquiring an additional 1,226,497 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at about $26,778,000. Candriam S.C.A. lifted its position 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 worth $24,297,000 after purchasing an additional 272,136 shares during the last quarter. Affinity Asset Advisors LLC grew its stake in Nurix Therapeutics by 12.6% in the second quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company's stock worth $19,033,000 after purchasing an additional 101,747 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Nurix Therapeutics by 60.2% in the second quarter. Millennium Management LLC now owns 599,623 shares of the company's stock valued at $12,514,000 after buying an additional 225,374 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.