Nurix Therapeutics (NASDAQ:NRIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nurix Therapeutics (NASDAQ:NRIX) from a sell rating to a hold rating in a research note published on Saturday.

Several other equities analysts have also weighed in on the stock. Oppenheimer began coverage on shares of Nurix Therapeutics in a research note on Monday, June 29th. They issued an “outperform” rating and a $28.00 target price for the company. Jefferies Financial Group increased their price target 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. Mizuho raised their price target on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, July 13th. BTIG Research reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a research note on Friday, July 10th. Finally, Robert W. Baird upped their price objective on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Nurix Therapeutics Trading Up 1.4%

NRIX opened at $25.88 on Friday. The stock has a fifty day moving average price of $21.43 and a 200 day moving average price of $18.10. Nurix Therapeutics has a 1 year low of $8.19 and a 1 year high of $26.04. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -7.50 and a beta of 1.79.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%. As a group, sell-side analysts forecast that Nurix Therapeutics will post -2.73 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 4,761 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the sale, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. This represents a 10.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the sale, the insider directly owned 115,005 shares of the company’s stock, valued at approximately $2,300,100. This represents a 4.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 25,314 shares of company stock worth $589,361. Corporate insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Nurix Therapeutics in the second quarter valued at about $212,769,000. Vanguard Group Inc. lifted its position in shares of Nurix Therapeutics by 32.5% during the 4th 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 stake in Nurix Therapeutics during the 4th quarter valued at approximately $92,899,000. Morgan Stanley boosted its stake in Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after purchasing an additional 2,620,323 shares during the period. Finally, Vestal Point Capital LP grew its holdings in Nurix Therapeutics by 35.0% in the 4th quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock valued at $88,969,000 after buying an additional 1,215,000 shares during the last quarter.

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.