Nurix Therapeutics (NASDAQ:NRIX) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Nurix Therapeutics (NASDAQ:NRIX) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

NRIX has been the subject of a number of other research reports. Robert W. Baird increased their target price on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. UBS Group boosted their price target on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada reduced their price target on shares of Nurix Therapeutics from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Thursday. Finally, HC Wainwright raised their price objective on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.79.

Nurix Therapeutics Price Performance

Shares of NRIX stock opened at $24.42 on Friday. The stock’s fifty day simple moving average is $25.11 and its 200 day simple moving average is $21.16. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 10.57 and a beta of 1.82. Nurix Therapeutics has a one year low of $9.71 and a one year high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Monday, October 12th. The company reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $5.33. The firm had revenue of $673.06 million for the quarter, compared to analysts’ expectations of $24.35 million. Nurix Therapeutics had a return on equity of 49.34% and a net margin of 42.01%. On average, research analysts anticipate that Nurix Therapeutics will post 1.15 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Hans van Houte sold 4,761 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total transaction of $115,977.96. Following the sale, the chief financial officer owned 40,166 shares in the company, valued at approximately $978,443.76. This represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, insider Gwenn Hansen sold 4,356 shares of the 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 in the company, valued at $2,930,675. The trade was a 3.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 45,407 shares of company stock worth $1,083,206. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Nurix Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Nurix Therapeutics during the 2nd quarter worth about $212,769,000. Perceptive Advisors LLC grew its holdings in Nurix Therapeutics by 4.4% during the 1st quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock worth $57,519,000 after acquiring an additional 155,000 shares during the last quarter. Trails Edge Capital Partners LP acquired a new stake in Nurix Therapeutics in the 2nd quarter valued at about $38,166,318. Bank of America Corp DE acquired a new stake in Nurix Therapeutics in the 2nd quarter valued at about $20,429,000. Finally, Handelsbanken Fonder AB increased its position in Nurix Therapeutics by 15.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 633,000 shares of the company’s stock valued at $15,357,000 after acquiring an additional 86,000 shares in the last quarter.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.