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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $31.12.

NRIX has been the subject of a number of research analyst reports. Stephens restated an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Jefferies Financial Group assumed coverage on Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 price target for the company. Stifel Nicolaus lifted their price objective on Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, BTIG Research began coverage on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $35.00 price target on the stock.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $18.59 on Wednesday. The company has a market cap of $1.41 billion, a P/E ratio of -6.43 and a beta of 2.14. Nurix Therapeutics has a 12 month low of $7.92 and a 12 month high of $29.56. The company has a 50-day moving average of $19.99 and a 200-day moving average of $22.35.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results 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 net margin of 354.85% and a negative return on equity of 53.65%. As a group, equities research analysts anticipate that Nurix Therapeutics will post -2.92 EPS for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, 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 completion of the transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the sale, the chief financial officer now owns 39,549 shares in the company, valued at approximately $785,047.65. This trade represents a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.80% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after buying an additional 511 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Nurix Therapeutics by 31.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after acquiring an additional 559 shares during the last quarter. Quarry LP raised its position in shares of Nurix Therapeutics by 3,746.2% during the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after acquiring an additional 2,435 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Nurix Therapeutics by 21.3% in the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock worth $168,000 after purchasing an additional 1,312 shares during the period.

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.