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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been given a consensus rating of “Moderate Buy” by the eighteen research firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.88.

A number of brokerages have commented on NRIX. Leerink Partnrs raised Nurix Therapeutics to a “hold” rating in a research note on Monday, March 17th. Morgan Stanley upped their price target on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Leerink Partners initiated coverage on shares of Nurix Therapeutics in a report on Monday, March 17th. They issued a “market perform” rating and a $16.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC cut their target price on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 5,825 shares of the business’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 sale, the chief financial officer now owns 33,724 shares of the company’s stock, valued at $488,660.76. The trade was a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gwenn Hansen sold 3,690 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at $1,110,349.45. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock valued at $213,449 in the last three months. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Nurix Therapeutics by 85.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock worth $1,531,000 after acquiring an additional 31,352 shares during the last quarter. Barclays PLC raised its stake in shares of 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 purchasing an additional 56,190 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Nurix Therapeutics by 42.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company’s stock valued at $14,869,000 after purchasing an additional 235,971 shares in the last quarter. FMR LLC boosted its position in shares of Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock valued at $13,188,000 after buying an additional 511,256 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Nurix Therapeutics in the 3rd quarter worth about $530,000.

Nurix Therapeutics Stock Down 2.2 %

Shares of NASDAQ:NRIX opened at $11.88 on Thursday. The stock has a market cap of $901.54 million, a PE ratio of -4.11 and a beta of 2.18. The company’s fifty day moving average is $16.19 and its 200 day moving average is $20.26. Nurix Therapeutics has a 52 week low of $11.38 and a 52 week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts anticipate that Nurix Therapeutics will post -2.99 EPS for the current 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.