Nurix Therapeutics, Inc. (NASDAQ:NRIX) Given Consensus Recommendation of “Buy” by Analysts

Nurix Therapeutics, Inc. (NASDAQ:NRIXGet Rating) has been assigned an average recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $43.14.

Several research firms recently issued reports on NRIX. HC Wainwright lowered their price objective on Nurix Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Piper Sandler reduced their price objective on Nurix Therapeutics from $55.00 to $35.00 in a research note on Tuesday, May 31st. Needham & Company LLC lowered their target price on Nurix Therapeutics from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, May 27th. Royal Bank of Canada decreased their price objective on Nurix Therapeutics from $42.00 to $39.00 and set an “outperform” rating on the stock in a research note on Monday, April 18th. Finally, Wells Fargo & Company raised Nurix Therapeutics from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research report on Tuesday, May 31st.

NRIX stock opened at $12.46 on Thursday. The stock has a market capitalization of $560.08 million, a PE ratio of -4.09 and a beta of 2.60. Nurix Therapeutics has a 12-month low of $7.52 and a 12-month high of $37.42. The stock’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $16.64.

Nurix Therapeutics (NASDAQ:NRIXGet Rating) last released its quarterly earnings data on Thursday, April 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The business had revenue of $9.62 million during the quarter, compared to the consensus estimate of $8.77 million. Nurix Therapeutics had a negative net margin of 394.21% and a negative return on equity of 38.11%. As a group, analysts predict that Nurix Therapeutics will post -3.93 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ensign Peak Advisors Inc increased its stake in Nurix Therapeutics by 512.0% in the 4th quarter. Ensign Peak Advisors Inc now owns 4,890 shares of the company’s stock worth $142,000 after acquiring an additional 4,091 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Nurix Therapeutics in the fourth quarter worth $3,369,000. Handelsbanken Fonder AB purchased a new stake in Nurix Therapeutics during the fourth quarter valued at $220,000. ARK Investment Management LLC bought a new position in Nurix Therapeutics during the fourth quarter valued at $1,272,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Nurix Therapeutics by 18.0% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 8,031 shares of the company’s stock worth $232,000 after buying an additional 1,223 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Nurix Therapeutics Company Profile (Get Rating)

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 for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally available Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.

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Analyst Recommendations for Nurix Therapeutics (NASDAQ:NRIX)

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