Nurix Therapeutics (NASDAQ:NRIX) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Nurix Therapeutics (NASDAQ:NRIX) announced its quarterly earnings data on Thursday. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08), Yahoo Finance reports. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The firm had revenue of $12.09 million during the quarter, compared to analysts’ expectations of $19.35 million.

Nurix Therapeutics Trading Up 8.8 %

Shares of NASDAQ NRIX opened at $22.03 on Friday. The stock has a market cap of $1.08 billion, a P/E ratio of -8.28 and a beta of 2.22. The business’s fifty day simple moving average is $17.10 and its 200-day simple moving average is $13.52. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $22.79.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Stephens assumed coverage on shares of Nurix Therapeutics in a research note on Tuesday, May 14th. They issued an “overweight” rating and a $20.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $27.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of Nurix Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Robert W. Baird lifted their price target on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, HC Wainwright upped their price objective on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.90.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now owns 19,838 shares of the company’s stock, valued at approximately $412,828.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $412,828.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the sale, the chief financial officer now owns 68,333 shares in the company, valued at $876,712.39. The disclosure for this sale can be found here. Insiders sold 16,549 shares of company stock valued at $271,888 in the last three months. 7.20% of the stock is owned by corporate insiders.

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.