Nurix Therapeutics (NASDAQ:NRIX) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX - Free Report) in a research note published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $36.00 target price on the stock.

Several other analysts also recently issued reports on the stock. Leerink Partners initiated coverage on shares of Nurix Therapeutics in a report on Monday, March 17th. They set a "market perform" rating and a $16.00 price objective for the company. Royal Bank of Canada upped their price target on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Morgan Stanley boosted their price objective on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Needham & Company LLC lowered their target price on Nurix Therapeutics from $29.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price target on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Nurix Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $30.88.

Nurix Therapeutics Stock Performance

Shares of Nurix Therapeutics stock traded down $0.50 during midday trading on Wednesday, reaching $9.19. 767,858 shares of the company's stock traded hands, compared to its average volume of 911,039. Nurix Therapeutics has a 52 week low of $8.61 and a 52 week high of $29.56. The company's 50 day simple moving average is $15.45 and its 200 day simple moving average is $19.86. The company has a market cap of $700.61 million, a price-to-earnings ratio of -3.21 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its 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 net margin of 354.85% and a negative return on equity of 53.65%. As a group, equities research analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,690 shares of the business's 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 sale, the insider now owns 55,937 shares in the company, valued at approximately $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 accessible through this link. Also, CFO Houte Hans Van sold 5,825 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the sale, the chief financial officer now directly owns 33,724 shares in the company, valued at $488,660.76. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,326 shares of company stock valued at $213,449. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Large investors have recently bought and sold shares of the business. US Bancorp DE boosted its stake in Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after purchasing an additional 842 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics during the 4th quarter worth about $28,000. Quarry LP grew its holdings in Nurix Therapeutics by 3,746.2% during the 3rd quarter. Quarry LP now owns 2,500 shares of the company's stock worth $56,000 after acquiring an additional 2,435 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Nurix Therapeutics in the 4th quarter valued at about $87,000. Finally, Summit Investment Advisors Inc. raised its stake in shares of Nurix Therapeutics by 13.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock worth $138,000 after acquiring an additional 877 shares during the last quarter.

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.