Nurix Therapeutics’ (NRIX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a report published on Tuesday,Benzinga reports. The firm currently has a $32.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Mizuho boosted their price objective on shares of Nurix Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Stifel Nicolaus raised their target price on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of Nurix Therapeutics in a report on Thursday, January 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. Finally, BTIG Research restated a “buy” rating and set a $30.00 price target on shares of Nurix Therapeutics in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.54.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX opened at $15.53 on Tuesday. The business’s 50-day simple moving average is $16.33 and its 200-day simple moving average is $14.77. Nurix Therapeutics has a 52 week low of $8.18 and a 52 week high of $22.50. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -5.11 and a beta of 1.96.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.02. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%.The firm had revenue of $13.58 million during the quarter, compared to analyst estimates of $13.41 million. As a group, equities research analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 4,895 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $81,257.00. Following the sale, the insider owned 83,672 shares in the company, valued at approximately $1,388,955.20. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 3,661 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $60,772.60. Following the transaction, the chief financial officer directly owned 45,427 shares in the company, valued at $754,088.20. This trade represents a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC raised its position in shares of Nurix Therapeutics by 339.0% during the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock valued at $29,000 after buying an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in Nurix Therapeutics during the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd bought a new position in Nurix Therapeutics during the fourth quarter valued at about $33,000. Wexford Capital LP acquired a new position in Nurix Therapeutics in the 3rd quarter valued at approximately $41,000. Finally, Tower Research Capital LLC TRC raised its holdings in Nurix Therapeutics by 118.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after acquiring an additional 3,475 shares in the last quarter.

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.