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

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.44.

NRIX has been the topic of a number of analyst reports. Needham & Company LLC lowered their target price on shares of Nurix Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Stephens reissued an "overweight" rating and set a $31.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Leerink Partnrs raised Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. HC Wainwright reiterated a "buy" rating and set a $36.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the transaction, the insider now directly owns 55,937 shares of the company's stock, valued at $1,110,349.45. The trade was a 6.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 5,825 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total value of $84,404.25. Following the sale, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at approximately $488,660.76. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock worth $213,449 in the last quarter. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Barclays PLC grew its holdings in Nurix Therapeutics by 77.9% in the 3rd quarter. Barclays PLC now owns 128,344 shares of the company's stock worth $2,884,000 after acquiring an additional 56,190 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Nurix Therapeutics by 9.6% in the third quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company's stock worth $32,544,000 after purchasing an additional 126,306 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Nurix Therapeutics by 52.4% in the third quarter. Franklin Resources Inc. now owns 123,101 shares of the company's stock worth $2,766,000 after purchasing an additional 42,315 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Nurix Therapeutics during the 3rd quarter valued at about $7,879,000. Finally, JPMorgan Chase & Co. raised its position in Nurix Therapeutics by 85.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company's stock valued at $1,531,000 after purchasing an additional 31,352 shares during the last quarter.

Nurix Therapeutics Stock Performance

NASDAQ NRIX traded down $0.12 on Monday, hitting $11.49. 295,231 shares of the stock traded hands, compared to its average volume of 892,890. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $29.56. The business's fifty day moving average is $12.81 and its two-hundred day moving average is $18.55. The firm has a market capitalization of $875.88 million, a price-to-earnings ratio of -3.95 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.05. The business had revenue of $18.45 million for the quarter, compared to the consensus estimate of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same period in the prior year, the firm earned ($0.76) earnings per share. Analysts expect that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

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.