Nurix Therapeutics, Inc. (NASDAQ:NRIX) Stock Rated “Moderate Buy” by Wall Street Brokerages

by · The Markets Daily

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $34.21.

Several research analysts have weighed in on NRIX shares. Wells Fargo & Company cut Nurix Therapeutics from an “overweight” rating to a “hold” rating and lowered their price objective for the stock from $28.00 to $25.00 in a research report on Monday, June 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Stifel Nicolaus upped their price target on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 10th. BTIG Research restated a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research note on Friday, July 10th. Finally, Mizuho raised their price target on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th.

Read Our Latest Stock Report on Nurix Therapeutics

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $22.99 on Monday. Nurix Therapeutics has a 12-month low of $8.99 and a 12-month high of $28.23. The business has a 50 day moving average of $25.34 and a 200-day moving average of $20.63. The stock has a market cap of $2.39 billion, a PE ratio of -6.66 and a beta of 1.82.

Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) last announced its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). The firm had revenue of $9.04 million for the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. Equities research analysts expect that Nurix Therapeutics will post -2.69 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Hans van Houte sold 4,761 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the transaction, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 4,356 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $25.00, for a total transaction of $108,900.00. Following the transaction, the insider directly owned 117,227 shares in the company, valued at $2,930,675. This represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 21,372 shares of company stock worth $518,463. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in NRIX. Nykredit A S acquired a new position in Nurix Therapeutics in the 2nd quarter valued at $32,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Nurix Therapeutics during the 2nd quarter worth $33,000. KBC Group NV acquired a new stake in shares of Nurix Therapeutics during the 1st quarter worth $34,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Nurix Therapeutics in the fourth quarter worth $53,000. Finally, Avalon Trust Co bought a new position in shares of Nurix Therapeutics in the second quarter worth $64,000.

Nurix Therapeutics Company Profile

(Get Free Report)

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.

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