Nurix Therapeutics’ (NRIX) Buy Rating Reaffirmed at BTIG Research

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a report issued on Monday,Benzinga reports. They presently have a $30.00 price objective on the stock. BTIG Research’s price target would suggest a potential upside of 89.27% from the company’s current price.

NRIX has been the subject of a number of other research reports. Royal Bank Of Canada boosted their target price on Nurix Therapeutics from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Piper Sandler boosted their target price on Nurix Therapeutics from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Nurix Therapeutics in a research note on Monday, April 27th. Stifel Nicolaus increased their price target on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Wells Fargo & Company reduced their target price on Nurix Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nurix Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $30.46.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $15.85 on Monday. Nurix Therapeutics has a one year low of $8.19 and a one year high of $22.50. The firm’s 50 day simple moving average is $15.91 and its two-hundred day simple moving average is $16.45. The stock has a market capitalization of $1.64 billion, a P/E ratio of -5.02 and a beta of 1.87.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The company had revenue of $6.25 million for the quarter, compared to the consensus estimate of $14.25 million. As a group, equities analysts expect that Nurix Therapeutics will post -2.94 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,214 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $16.65, for a total value of $53,513.10. Following the sale, the insider directly owned 120,399 shares of the company’s stock, valued at $2,004,643.35. This represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Houte Hans Van sold 14,055 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the sale, the chief financial officer directly owned 37,592 shares in the company, valued at $624,027.20. This represents a 27.21% 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. Insiders sold a total of 19,657 shares of company stock worth $326,586 over the last ninety days. Insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NRIX. Larson Financial Group LLC grew its stake in shares of Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after buying an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Nurix Therapeutics in the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nurix Therapeutics in the 4th quarter worth approximately $33,000. KBC Group NV purchased a new stake in shares of Nurix Therapeutics in the 1st quarter worth approximately $34,000. Finally, Wexford Capital LP purchased a new stake in shares of Nurix Therapeutics in the 3rd quarter worth approximately $41,000.

Nurix Therapeutics Company Profile

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.