Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $32.20 Consensus PT from Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX) has earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $32.20.

Several analysts have issued reports on NRIX shares. Wells Fargo & Company cut shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $25.00 in a research note on Monday, June 8th. Jefferies Financial Group increased their target price on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Robert W. Baird raised their price objective on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Tuesday, April 21st. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, June 10th.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $19.30 on Friday. Nurix Therapeutics has a 1 year low of $8.19 and a 1 year high of $22.50. The stock has a market capitalization of $2.00 billion, a PE ratio of -6.11 and a beta of 1.86. The company’s 50 day simple moving average is $16.74 and its two-hundred day simple moving average is $16.96.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.03). Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%.The firm had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $14.25 million. On average, research analysts anticipate that Nurix Therapeutics will post -2.88 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,214 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $16.65, for a total transaction of $53,513.10. Following the sale, the insider owned 120,399 shares in the company, valued at approximately $2,004,643.35. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the sale, the chief financial officer owned 37,592 shares in the company, valued at approximately $624,027.20. This trade represents a 27.21% decrease in their position. 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 90 days, insiders have sold 19,657 shares of company stock worth $326,586. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC raised its position 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 buying an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in Nurix Therapeutics in the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Nurix Therapeutics in the 4th quarter worth $33,000. KBC Group NV purchased a new position in Nurix Therapeutics in the 1st quarter worth $34,000. Finally, Wexford Capital LP purchased a new position in Nurix Therapeutics in the 3rd quarter worth $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.