Nurix Therapeutics (NASDAQ:NRIX) Announces Quarterly Earnings Results

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.05, Zacks reports. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The company had revenue of $18.45 million during the quarter, compared to analysts' expectations of $12.78 million. During the same quarter in the prior year, the business posted ($0.76) earnings per share.

Nurix Therapeutics Stock Up 3.2 %

Shares of NRIX traded up $0.29 during midday trading on Monday, reaching $9.43. 267,599 shares of the stock were exchanged, compared to its average volume of 895,279. The stock's 50 day simple moving average is $14.03 and its 200 day simple moving average is $19.16. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $29.56. The company has a market cap of $718.91 million, a P/E ratio of -3.26 and a beta of 2.23.

Analyst Ratings Changes

Several brokerages have issued reports on NRIX. HC Wainwright reissued a "buy" rating and set a $36.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Leerink Partnrs upgraded Nurix Therapeutics to a "hold" rating in a research note on Monday, March 17th. Needham & Company LLC dropped their price objective on shares of Nurix Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company lowered their target price on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. decreased their price objective on Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.44.

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Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,811 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $55,798.35. Following the completion of the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at approximately $785,047.65. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gwenn Hansen sold 3,690 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock worth $213,449 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.

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.