Brokerages Expect Nurix Therapeutics, Inc. (NASDAQ:NRIX) Will Announce Quarterly Sales of $16.24 Million

Analysts expect that Nurix Therapeutics, Inc. (NASDAQ:NRIX) will report $16.24 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Nurix Therapeutics’ earnings, with the highest sales estimate coming in at $35.46 million and the lowest estimate coming in at $8.80 million. Nurix Therapeutics posted sales of $6.69 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 142.8%. The firm is expected to announce its next earnings report on Tuesday, February 15th.

According to Zacks, analysts expect that Nurix Therapeutics will report full year sales of $38.60 million for the current fiscal year, with estimates ranging from $31.20 million to $57.81 million. For the next fiscal year, analysts expect that the business will post sales of $55.81 million, with estimates ranging from $35.30 million to $73.14 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Nurix Therapeutics.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Thursday, October 14th. The company reported ($0.65) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.02). Nurix Therapeutics had a negative return on equity of 29.81% and a negative net margin of 342.27%. The company had revenue of $10.25 million during the quarter, compared to the consensus estimate of $8.73 million.

NRIX has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Nurix Therapeutics from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. SVB Leerink lifted their price objective on Nurix Therapeutics from $50.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Nurix Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $53.17.

In related news, insider Gwenn Hansen sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $35.00, for a total value of $56,000.00. Following the sale, the insider now directly owns 15,797 shares of the company’s stock, valued at $552,895. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Christine Ring sold 3,200 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $35.25, for a total value of $112,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,000 shares of company stock worth $269,096. Company insiders own 6.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can boosted its position in shares of Nurix Therapeutics by 138.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 1,528 shares of the company’s stock worth $41,000 after purchasing an additional 888 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Nurix Therapeutics by 26.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,456 shares of the company’s stock worth $65,000 after purchasing an additional 509 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Nurix Therapeutics by 440.7% in the 1st quarter. Royal Bank of Canada now owns 2,190 shares of the company’s stock worth $68,000 after purchasing an additional 1,785 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Nurix Therapeutics by 25.5% in the 2nd quarter. Legal & General Group Plc now owns 3,673 shares of the company’s stock worth $98,000 after purchasing an additional 747 shares in the last quarter. Finally, Grace Capital boosted its position in shares of Nurix Therapeutics by 85.5% in the 2nd quarter. Grace Capital now owns 4,569 shares of the company’s stock worth $121,000 after purchasing an additional 2,106 shares in the last quarter. 90.57% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:NRIX traded down $0.74 during trading hours on Friday, hitting $30.70. 181,635 shares of the company’s stock traded hands, compared to its average volume of 417,716. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -12.85 and a beta of 2.25. Nurix Therapeutics has a 52 week low of $21.53 and a 52 week high of $52.38. The company has a fifty day moving average of $32.66.

About Nurix Therapeutics

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.

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