Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $27.73 Average Price Target from Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been given a consensus rating of “Moderate Buy” by the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $27.7333.

Several equities analysts have recently issued reports on NRIX shares. BTIG Research boosted their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Truist Financial began coverage on shares of Nurix Therapeutics in a research report on Monday, November 24th. They set a “buy” rating and a $30.00 price objective on the stock. Mizuho upped their price objective on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Wall Street Zen lowered shares of Nurix Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 11th. Finally, Piper Sandler decreased their price target on shares of Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, October 10th.

Nurix Therapeutics Trading Up 0.3%

Shares of NASDAQ:NRIX opened at $19.36 on Friday. The company has a 50-day moving average price of $15.60 and a 200-day moving average price of $12.29. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -6.52 and a beta of 1.87. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. The business had revenue of $7.89 million for the quarter, compared to analysts’ expectations of $16.06 million. As a group, research analysts forecast that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 4,087 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $12.80, for a total value of $52,313.60. Following the completion of the transaction, the insider owned 76,751 shares in the company, valued at approximately $982,412.80. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Houte Hans Van sold 6,284 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $12.56, for a total value of $78,927.04. Following the transaction, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at $472,155.52. This represents a 14.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,501 shares of company stock valued at $171,305 in the last three months. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Wexford Capital LP bought a new stake in Nurix Therapeutics during the third quarter worth about $41,000. Tower Research Capital LLC TRC lifted its holdings in shares of Nurix Therapeutics by 118.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after purchasing an additional 3,475 shares during the last quarter. Velan Capital Investment Management LP purchased a new position in shares of Nurix Therapeutics during the second quarter valued at approximately $114,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Nurix Therapeutics in the 3rd quarter worth approximately $100,000. Finally, 49 Wealth Management LLC purchased a new stake in shares of Nurix Therapeutics in the 3rd quarter worth approximately $108,000.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.