Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $24.80 Consensus PT from Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $25.10.

Several equities research analysts recently commented on the company. HC Wainwright upped their target price on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Stephens began coverage on Nurix Therapeutics in a research note on Tuesday, May 14th. They set an “overweight” rating and a $20.00 price target on the stock. Royal Bank of Canada upped their price target on Nurix Therapeutics from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research note on Monday, June 17th.

Insider Buying and Selling

In related news, insider Christine Ring sold 1,596 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $17.01, for a total transaction of $27,147.96. Following the completion of the sale, the insider now owns 19,838 shares in the company, valued at $337,444.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total value of $44,892.17. Following the completion of the transaction, the chief financial officer now owns 68,333 shares in the company, valued at approximately $876,712.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine Ring sold 1,596 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the completion of the transaction, the insider now owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,549 shares of company stock worth $271,888. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NRIX. China Universal Asset Management Co. Ltd. grew its stake in Nurix Therapeutics by 351.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after purchasing an additional 4,367 shares during the period. Quest Partners LLC bought a new position in Nurix Therapeutics in the 4th quarter valued at $59,000. EntryPoint Capital LLC bought a new position in Nurix Therapeutics in the 1st quarter valued at $123,000. Jump Financial LLC bought a new position in Nurix Therapeutics in the 4th quarter valued at $158,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Nurix Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock valued at $163,000 after buying an additional 4,012 shares during the last quarter.

Nurix Therapeutics Price Performance

Shares of Nurix Therapeutics stock opened at $20.91 on Tuesday. Nurix Therapeutics has a one year low of $4.22 and a one year high of $22.44. The stock’s 50-day moving average is $15.94 and its 200 day moving average is $12.98. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -7.86 and a beta of 2.17.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The company had revenue of $16.59 million for the quarter, compared to analyst estimates of $14.58 million. On average, sell-side analysts expect that Nurix Therapeutics will post -2.85 EPS for the current fiscal year.

About Nurix Therapeutics

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable 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 bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.