Nurix Therapeutics (NASDAQ:NRIX) Issues Quarterly Earnings Results, Hits Estimates

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) posted its quarterly earnings results on Friday. The company reported ($0.67) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.67), Zacks reports. The business had revenue of $12.59 million for the quarter, compared to analysts' expectations of $13.85 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX traded up $1.53 during midday trading on Monday, reaching $25.16. The stock had a trading volume of 737,669 shares, compared to its average volume of 893,621. The company's 50 day moving average price is $23.27 and its 200 day moving average price is $19.28. Nurix Therapeutics has a twelve month low of $4.22 and a twelve month high of $26.31. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -8.62 and a beta of 2.22.

Insider Buying and Selling at Nurix Therapeutics

In related news, insider Christine Ring sold 5,760 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was 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 owns 24,592 shares of the company's stock, valued at $527,006.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.22, for a total value of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at approximately $781,870.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christine Ring sold 5,760 shares of Nurix Therapeutics 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,815 shares of company stock valued at $1,424,931. 7.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NRIX. Needham & Company LLC reissued a "buy" rating and set a $29.00 price target on shares of Nurix Therapeutics in a research report on Monday. Oppenheimer raised their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Barclays increased their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, July 15th. Truist Financial began coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They set a "buy" rating and a $36.00 price target for the company. Finally, Royal Bank of Canada cut their target price on Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating for the company in a research note on Monday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.71.

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.