Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $30.46 Average PT from Brokerages

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $30.4615.

NRIX has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Nurix Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Tuesday, April 21st. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of Nurix Therapeutics in a report on Thursday, April 23rd. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Nurix Therapeutics in a report on Monday, April 27th. Finally, BTIG Research reiterated a “buy” rating and set a $30.00 price target on shares of Nurix Therapeutics in a report on Monday, May 18th.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,214 shares of the firm’s stock in a transaction that occurred on 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 owned 120,399 shares in the company, valued at approximately $2,004,643.35. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 firm’s stock in a transaction that occurred on 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 owned 37,592 shares in the company, valued at $624,027.20. This 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. Insiders sold 19,657 shares of company stock worth $326,586 in the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Nurix Therapeutics by 32.5% in the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock worth $112,862,000 after purchasing an additional 1,460,736 shares during the last quarter. General Atlantic L.P. bought a new position in Nurix Therapeutics in the fourth quarter worth approximately $92,899,000. Morgan Stanley raised its position in Nurix Therapeutics by 115.9% in the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after acquiring an additional 2,620,323 shares during the period. Vestal Point Capital LP raised its position in Nurix Therapeutics by 35.0% in the fourth quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock worth $88,969,000 after acquiring an additional 1,215,000 shares during the period. Finally, Baker BROS. Advisors LP raised its position in Nurix Therapeutics by 20.0% in the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock worth $88,373,000 after acquiring an additional 776,431 shares during the period.

Nurix Therapeutics Stock Down 2.1%

NASDAQ:NRIX opened at $17.39 on Tuesday. The company’s 50 day moving average price is $16.27 and its 200-day moving average price is $16.80. Nurix Therapeutics has a 52 week low of $8.19 and a 52 week high of $22.50. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -5.50 and a beta of 1.87.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) 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 firm had revenue of $6.25 million for the quarter, compared to analysts’ expectations of $14.25 million. As a group, sell-side analysts anticipate that Nurix Therapeutics will post -2.94 earnings per share for the current year.

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.