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

Leerink Partners initiated coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research 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 equities analysts also recently issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Needham & Company LLC decreased their price objective on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. BTIG Research began coverage on shares of Nurix Therapeutics in a report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 price objective for the company. 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 report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Nurix Therapeutics Trading Up 2.5 %

Shares of NASDAQ:NRIX opened at $13.93 on Monday. The company has a fifty day simple moving average of $17.43 and a 200 day simple moving average of $21.06. The firm has a market cap of $1.06 billion, a PE ratio of -4.82 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) last issued its quarterly 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 return on equity of 53.65% and a negative net margin of 354.85%. As a group, equities research analysts forecast that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 5,825 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.49, for a total transaction of $84,404.25. Following the completion of the sale, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at approximately $488,660.76. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,326 shares of company stock valued at $213,449. 7.20% of the stock is owned by insiders.

Institutional Trading of Nurix Therapeutics

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Nurix Therapeutics by 85.2% in the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock worth $1,531,000 after buying an additional 31,352 shares during the last quarter. Barclays PLC increased its holdings in Nurix Therapeutics by 77.9% in the third quarter. Barclays PLC now owns 128,344 shares of the company’s stock worth $2,884,000 after buying an additional 56,190 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Nurix Therapeutics by 42.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company’s stock worth $14,869,000 after buying an additional 235,971 shares during the last quarter. FMR LLC increased its holdings in Nurix Therapeutics by 675.9% in the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after buying an additional 511,256 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Nurix Therapeutics in the third quarter worth approximately $530,000.

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.