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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eighteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $30.88.

NRIX has been the subject of several recent research reports. Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a research report on Monday, March 17th. Leerink Partners started coverage on Nurix Therapeutics in a report on Monday, March 17th. They issued a "market perform" rating and a $16.00 price objective for the company. BTIG Research began coverage on Nurix Therapeutics in a report on Tuesday, December 10th. They set a "buy" rating and a $35.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX traded down $0.40 during mid-day trading on Thursday, hitting $12.15. 623,319 shares of the stock traded hands, compared to its average volume of 896,829. Nurix Therapeutics has a twelve month low of $11.90 and a twelve month high of $29.56. The firm has a 50 day simple moving average of $16.34 and a two-hundred day simple moving average of $20.35. The company has a market cap of $922.03 million, a PE ratio of -4.20 and a beta of 2.18.

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Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. On average, equities research analysts anticipate that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares of the company's stock, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $55,798.35. Following the transaction, the chief financial officer now owns 39,549 shares in the company, valued at approximately $785,047.65. The trade was a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock worth $213,449 in the last three months. Company insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new stake in Nurix Therapeutics during the 3rd quarter worth approximately $484,000. Quest Partners LLC grew its holdings in Nurix Therapeutics by 21.3% during the third quarter. Quest Partners LLC now owns 7,458 shares of the company's stock worth $168,000 after buying an additional 1,312 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Nurix Therapeutics in the 3rd quarter valued at $425,000. Dynamic Technology Lab Private Ltd bought a new position in Nurix Therapeutics during the 3rd quarter valued at $530,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Nurix Therapeutics by 32.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 30,383 shares of the company's stock worth $683,000 after acquiring an additional 7,441 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.