Nurix Therapeutics (NASDAQ:NRIX) Given “Buy” Rating at HC Wainwright

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $36.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 243.84% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC dropped their target price on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Leerink Partners started coverage on Nurix Therapeutics in a research note on Monday, March 17th. They set a “market perform” rating and a $16.00 target price on the stock. Leerink Partnrs upgraded Nurix Therapeutics to a “hold” rating in a research note on Monday, March 17th. Stifel Nicolaus upped their price target on Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Nurix Therapeutics Stock Down 11.9 %

NRIX stock opened at $10.47 on Wednesday. The business has a 50 day moving average of $16.01 and a 200 day moving average of $20.16. The firm has a market cap of $794.54 million, a PE ratio of -3.62 and a beta of 2.18. Nurix Therapeutics has a twelve month low of $10.37 and a twelve month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (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%. On average, research analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value 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 approximately $1,110,349.45. This represents a 6.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Houte Hans Van sold 5,825 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at approximately $488,660.76. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,326 shares of company stock valued at $213,449. 7.20% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Nurix Therapeutics by 3.0% in the 4th quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company’s stock worth $67,572,000 after buying an additional 104,500 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Nurix Therapeutics in the fourth quarter valued at about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Nurix Therapeutics by 14.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 146,713 shares of the company’s stock valued at $2,764,000 after acquiring an additional 18,189 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Nurix Therapeutics by 0.5% in the fourth quarter. Woodline Partners LP now owns 338,462 shares of the company’s stock worth $6,377,000 after acquiring an additional 1,583 shares during the period. Finally, Velan Capital Investment Management LP bought a new stake in Nurix Therapeutics during the 4th quarter valued at approximately $1,844,000.

Nurix Therapeutics Company Profile

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.