Nurix Therapeutics (NASDAQ:NRIX) Now Covered by Analysts at Leerink Partners

Leerink Partners initiated coverage on shares of Nurix Therapeutics (NASDAQ:NRIX - Free Report) in a report released on Monday morning, MarketBeat Ratings reports. The firm issued a market perform rating and a $16.00 price target on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. BMO Capital Markets initiated coverage on Nurix Therapeutics in a research note on Friday, December 6th. They issued an "outperform" rating and a $35.00 price objective on the stock. Stifel Nicolaus lifted their target price on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. HC Wainwright raised their price target on Nurix Therapeutics from $35.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Finally, Morgan Stanley lifted their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.88.

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Nurix Therapeutics Stock Performance

NRIX traded down $0.88 on Monday, hitting $12.99. 2,288,289 shares of the company were exchanged, compared to its average volume of 868,315. The stock's fifty day moving average is $17.10 and its 200-day moving average is $20.88. The company has a market cap of $985.77 million, a PE ratio of -4.49 and a beta of 2.18. Nurix Therapeutics has a 12 month low of $11.90 and a 12 month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, equities research analysts expect that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Houte Hans Van sold 5,825 shares of the business's 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 completion of the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at approximately $488,660.76. The trade was a 14.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the sale, the insider now owns 55,937 shares in the company, valued at $1,110,349.45. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock valued at $213,449 over the last quarter. 7.20% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in Nurix Therapeutics by 1,711.9% during the fourth quarter. FMR LLC now owns 10,634,231 shares of the company's stock worth $200,349,000 after acquiring an additional 10,047,329 shares in the last quarter. RA Capital Management L.P. bought a new position in Nurix Therapeutics in the 4th quarter valued at approximately $25,120,000. Soleus Capital Management L.P. boosted its position in Nurix Therapeutics by 97.3% in the fourth quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock valued at $39,617,000 after buying an additional 1,036,999 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $16,447,000. Finally, Boxer Capital Management LLC acquired a new position in shares of Nurix Therapeutics during the fourth quarter worth $10,608,000.

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.