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

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has received an average rating of "Moderate Buy" from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.88.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Nurix Therapeutics from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, February 16th. Needham & Company LLC restated a "buy" rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, May 14th. Robert W. Baird upped their price target on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an "outperform" rating in a research note on Thursday, April 11th. Morgan Stanley upped their price target on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Finally, Stephens assumed coverage on shares of Nurix Therapeutics in a research note on Tuesday, May 14th. They issued an "overweight" rating and a $20.00 price target on the stock.

Nurix Therapeutics Stock Up 1.1 %

Shares of NRIX traded up $0.17 during trading hours on Friday, hitting $15.75. The company had a trading volume of 1,879,787 shares, compared to its average volume of 949,499. The firm has a market cap of $774.11 million, a price-to-earnings ratio of -5.96 and a beta of 2.10. The business has a fifty day moving average of $14.48 and a 200-day moving average of $11.21. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $18.12.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.04. The company had revenue of $16.59 million for the quarter, compared to analyst estimates of $14.58 million. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. On average, equities analysts expect that Nurix Therapeutics will post -3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at $876,712.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 6,893 shares of company stock worth $85,756 over the last ninety days. Corporate insiders own 7.20% of the company's stock.

Institutional Trading of Nurix Therapeutics

Several large investors have recently bought and sold shares of NRIX. Redmile Group LLC raised its stake in Nurix Therapeutics by 37.7% during the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company's stock worth $65,900,000 after acquiring an additional 1,226,497 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Nurix Therapeutics by 23.2% in the fourth quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company's stock worth $32,972,000 after acquiring an additional 601,952 shares during the last quarter. Affinity Asset Advisors LLC lifted its holdings in shares of Nurix Therapeutics by 176.0% in the fourth quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company's stock worth $7,122,000 after acquiring an additional 440,112 shares during the last quarter. Ikarian Capital LLC bought a new position in shares of Nurix Therapeutics in the first quarter worth about $4,410,000. Finally, Opaleye Management Inc. bought a new position in shares of Nurix Therapeutics in the first quarter worth about $3,928,000.

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.