Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives Average Rating of “Moderate Buy” from Analysts

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $29.40.

A number of analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, November 6th. Jefferies Financial Group started coverage on Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 target price on the stock. Stephens restated an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Monday, October 14th. Truist Financial assumed coverage on Nurix Therapeutics in a research report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price target on the stock. Finally, Oppenheimer raised their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th.

Insider Buying and Selling

In related news, insider Christine Ring sold 9,870 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.01, for a total transaction of $246,848.70. Following the sale, the insider now owns 24,592 shares of the company’s stock, valued at $615,045.92. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 2,368 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total transaction of $57,542.40. Following the completion of the sale, the chief financial officer now owns 37,270 shares of the company’s stock, valued at $905,661. This trade represents a 5.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,321 shares of company stock valued at $1,414,409. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently made changes to their positions in the company. Driehaus Capital Management LLC acquired a new position in shares of Nurix Therapeutics during the 2nd quarter worth approximately $26,778,000. Redmile Group LLC grew its holdings in Nurix Therapeutics by 37.7% in the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after buying an additional 1,226,497 shares in the last quarter. Samlyn Capital LLC acquired a new stake in shares of Nurix Therapeutics in the 2nd quarter worth $12,177,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Nurix Therapeutics during the 3rd quarter worth $12,432,000. Finally, FMR LLC boosted its position in shares of Nurix Therapeutics by 675.9% during the 3rd quarter. FMR LLC now owns 586,902 shares of the company’s stock valued at $13,188,000 after acquiring an additional 511,256 shares during the last quarter.

Nurix Therapeutics Trading Down 1.2 %

Shares of Nurix Therapeutics stock opened at $22.37 on Friday. Nurix Therapeutics has a 1 year low of $5.65 and a 1 year high of $29.56. The company’s fifty day simple moving average is $24.43 and its 200-day simple moving average is $21.42. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -7.69 and a beta of 2.20.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The business had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. As a group, research analysts forecast that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

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.