Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $29.40 Average PT from Analysts

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $29.40.

A number of equities research analysts have recently issued reports on the company. Oppenheimer upped their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price target for the company. HC Wainwright boosted their price objective on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Stephens reiterated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday, October 14th. Finally, Robert W. Baird began coverage on Nurix Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $26.00 price target on the stock.

Nurix Therapeutics Trading Down 2.6 %

Shares of NRIX stock opened at $21.23 on Friday. The firm’s fifty day moving average price is $24.09 and its two-hundred day moving average price is $21.70. Nurix Therapeutics has a 1 year low of $5.68 and a 1 year high of $29.56. The firm has a market capitalization of $1.50 billion, a P/E ratio of -7.30 and a beta of 2.20.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million for the quarter, compared to the consensus estimate of $13.85 million. As a group, equities research analysts forecast that Nurix Therapeutics will post -2.81 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other news, insider Christine Ring sold 9,050 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $24.94, for a total value of $225,707.00. Following the completion of the sale, the insider now directly owns 24,592 shares in the company, valued at approximately $613,324.48. The trade was a 26.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Houte Hans Van sold 3,546 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the sale, the chief financial officer now directly owns 33,724 shares in the company, valued at $818,818.72. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,451 shares of company stock valued at $663,160. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRIX. Amalgamated Bank raised its stake in Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after purchasing an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 buying an additional 559 shares during the period. Quarry LP raised its position in shares of Nurix Therapeutics by 3,746.2% in the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after buying an additional 2,435 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Nurix Therapeutics by 1,098.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after acquiring an additional 4,119 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Nurix Therapeutics by 299.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after acquiring an additional 3,424 shares in the last quarter.

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.