Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives Average Recommendation of “Buy” from Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $49.33.

NRIX has been the topic of a number of analyst reports. SVB Leerink initiated coverage on shares of Nurix Therapeutics in a research note on Thursday. They set an “outperform” rating and a $50.00 price objective on the stock. Zacks Investment Research upgraded shares of Nurix Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, June 16th. Finally, Needham & Company LLC began coverage on shares of Nurix Therapeutics in a research note on Thursday, July 15th. They set a “buy” rating and a $48.00 price objective on the stock.

Nurix Therapeutics stock traded down $0.29 during trading hours on Friday, reaching $28.50. 11,955 shares of the stock were exchanged, compared to its average volume of 420,908. The company has a market cap of $1.27 billion, a P/E ratio of -12.36 and a beta of 2.47. Nurix Therapeutics has a twelve month low of $21.53 and a twelve month high of $52.38. The stock has a 50 day moving average of $32.13 and a two-hundred day moving average of $30.03.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Monday, July 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.06). The firm had revenue of $7.09 million for the quarter, compared to analyst estimates of $9.24 million. Nurix Therapeutics had a negative return on equity of 28.14% and a negative net margin of 389.44%. On average, sell-side analysts predict that Nurix Therapeutics will post -2.48 earnings per share for the current year.

In other news, insider Gwenn Hansen sold 1,600 shares of Nurix Therapeutics stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $35.00, for a total transaction of $56,000.00. Following the sale, the insider now directly owns 15,797 shares in the company, valued at approximately $552,895. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christine Ring sold 1,200 shares of Nurix Therapeutics stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $29.87, for a total value of $35,844.00. Following the sale, the general counsel now owns 2,005 shares in the company, valued at $59,889.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,700 shares of company stock valued at $518,278. 6.30% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in Nurix Therapeutics by 422.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,093,705 shares of the company’s stock valued at $96,183,000 after buying an additional 2,502,069 shares in the last quarter. Baker BROS. Advisors LP grew its holdings in shares of Nurix Therapeutics by 37.2% during the first quarter. Baker BROS. Advisors LP now owns 2,454,082 shares of the company’s stock worth $76,297,000 after purchasing an additional 665,161 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Nurix Therapeutics by 55.3% during the first quarter. BlackRock Inc. now owns 1,816,689 shares of the company’s stock worth $56,480,000 after purchasing an additional 646,715 shares in the last quarter. Regents of The University of California purchased a new position in shares of Nurix Therapeutics during the second quarter worth about $15,155,000. Finally, State Street Corp lifted its position in Nurix Therapeutics by 35.0% in the 2nd quarter. State Street Corp now owns 1,859,468 shares of the company’s stock worth $49,332,000 after buying an additional 481,606 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapies for the treatment of cancer and immune disorders. The company develops NX-2127, an orally available Bruton's tyrosine kinase (BTK) degrader with immunomodulatory drug (IMiD) activity for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader without IMiD activity for the treatment of relapsed or refractory B-cell malignancies; and NX-1607, an orally available Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.

Recommended Story: Debt-To-Equity Ratio

Analyst Recommendations for Nurix Therapeutics (NASDAQ:NRIX)

Receive News & Ratings for Nurix Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nurix Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.