Nurix Therapeutics, Inc. (NASDAQ:NRIX) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $34.21.

NRIX has been the topic of several recent research reports. HC Wainwright raised their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Royal Bank Of Canada boosted their price target on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. BTIG Research reaffirmed a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research note on Friday, July 10th. Truist Financial upped their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Jefferies Financial Group raised their price target on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, June 8th.

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $22.99 on Monday. The stock’s 50-day simple moving average is $25.34 and its 200 day simple moving average is $20.60. Nurix Therapeutics has a 52-week low of $8.99 and a 52-week high of $28.23. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -6.66 and a beta of 1.82.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The firm had revenue of $9.04 million during the quarter, compared to the consensus estimate of $15.29 million. On average, research analysts forecast that Nurix Therapeutics will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Hans van Houte sold 4,761 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the sale, the chief financial officer owned 40,166 shares of the company’s stock, valued at $978,443.76. This represents a 10.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 1,452 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.47, for a total transaction of $36,982.44. Following the sale, the insider directly owned 117,227 shares of the company’s stock, valued at approximately $2,985,771.69. This represents a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,372 shares of company stock valued at $518,463 in the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $212,769,000. General Atlantic L.P. purchased a new position in Nurix Therapeutics during the fourth quarter valued at approximately $92,899,000. Baker BROS. Advisors LP grew its stake in Nurix Therapeutics by 20.0% in the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after purchasing an additional 776,431 shares during the last quarter. Perceptive Advisors LLC grew its holdings in Nurix Therapeutics by 151.1% in the fourth quarter. Perceptive Advisors LLC now owns 3,555,877 shares of the company’s stock worth $67,455,000 after purchasing an additional 2,139,728 shares during the last quarter. Finally, Trails Edge Capital Partners LP purchased a new stake in shares of Nurix Therapeutics during the second quarter worth about $38,166,318.

About Nurix Therapeutics

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.