Nurix Therapeutics (NASDAQ:NRIX) Stock Rating Upgraded by Wall Street Zen

Nurix Therapeutics (NASDAQ:NRIX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

NRIX has been the subject of several other research reports. UBS Group boosted their target price on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada raised their price target on shares of Nurix Therapeutics from $30.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Oppenheimer assumed coverage on shares of Nurix Therapeutics in a report on Monday, June 29th. They issued an “outperform” rating and a $28.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, August 4th. Finally, Truist Financial increased their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $25.53 on Friday. Nurix Therapeutics has a fifty-two week low of $8.19 and a fifty-two week high of $25.89. The business has a 50 day moving average price of $21.26 and a two-hundred day moving average price of $18.05. The firm has a market cap of $2.65 billion, a PE ratio of -7.40 and a beta of 1.79.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The company had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. On average, analysts anticipate that Nurix Therapeutics will post -2.73 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 4,356 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $25.00, for a total value of $108,900.00. Following the sale, the insider owned 117,227 shares of the company’s stock, valued at approximately $2,930,675. The trade was a 3.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was 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 in the company, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 25,314 shares of company stock worth $589,361. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock valued at $29,000 after acquiring an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in Nurix Therapeutics during the fourth quarter valued at $33,000. KBC Group NV acquired a new stake in Nurix Therapeutics during the first quarter valued at $34,000. Finally, Wexford Capital LP purchased a new position in Nurix Therapeutics in the third quarter valued at about $41,000.

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.