Nurix Therapeutics (NASDAQ:NRIX) Earns Buy Rating from Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group started coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report issued to clients and investors on Friday, Briefing.com reports. The firm set a “buy” rating and a $41.00 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 87.56% from the stock’s previous close.

A number of other analysts have also weighed in on NRIX. Barclays increased their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. HC Wainwright increased their price objective on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Oppenheimer increased their price objective on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Robert W. Baird started coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Nurix Therapeutics Trading Down 0.6 %

Shares of NASDAQ:NRIX opened at $21.86 on Friday. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $26.31. The company has a 50-day moving average price of $23.22 and a 200 day moving average price of $19.13. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -7.49 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The business had revenue of $12.09 million during the quarter, compared to the consensus estimate of $19.35 million. As a group, equities analysts forecast that Nurix Therapeutics will post -2.95 EPS for the current year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the transaction, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at $1,126,080.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the completion of the sale, the chief financial officer now directly owns 54,479 shares in the company, valued at $1,126,080.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gwenn Hansen sold 3,408 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $70,443.36. Following the completion of the sale, the insider now owns 45,150 shares of the company’s stock, valued at approximately $933,250.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,815 shares of company stock valued at $1,424,931 over the last ninety days. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in NRIX. GAMMA Investing LLC lifted its stake in shares of Nurix Therapeutics by 299.8% during the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after buying an additional 3,424 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Nurix Therapeutics during the first quarter worth $123,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Nurix Therapeutics by 67.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock worth $138,000 after buying an additional 3,793 shares during the period. ProShare Advisors LLC lifted its stake in shares of Nurix Therapeutics by 9.1% during the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock worth $176,000 after buying an additional 998 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Nurix Therapeutics during the second quarter worth $201,000.

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.