Nurix Therapeutics (NASDAQ:NRIX) Earns Buy Rating from HC Wainwright

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $36.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 243.84% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Leerink Partnrs raised shares of Nurix Therapeutics to a “hold” rating in a research note on Monday, March 17th. Leerink Partners started coverage on shares of Nurix Therapeutics in a report on Monday, March 17th. They issued a “market perform” rating and a $16.00 price target for the company. BTIG Research started coverage on Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 price objective on the stock. Needham & Company LLC lowered their price objective on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their target price on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Nurix Therapeutics Stock Down 11.9 %

NRIX opened at $10.47 on Wednesday. Nurix Therapeutics has a 52 week low of $10.37 and a 52 week high of $29.56. The firm has a 50-day simple moving average of $16.01 and a two-hundred day simple moving average of $20.16. The company has a market capitalization of $794.54 million, a PE ratio of -3.62 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. As a group, sell-side analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Activity

In other Nurix Therapeutics news, CFO Houte Hans Van sold 5,825 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total transaction of $84,404.25. Following the transaction, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at $488,660.76. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock worth $213,449 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several large investors have recently bought and sold shares of NRIX. JPMorgan Chase & Co. boosted its stake in shares of Nurix Therapeutics by 85.2% in the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock worth $1,531,000 after acquiring an additional 31,352 shares during the last quarter. Barclays PLC lifted its holdings in Nurix Therapeutics by 77.9% in the 3rd quarter. Barclays PLC now owns 128,344 shares of the company’s stock valued at $2,884,000 after purchasing an additional 56,190 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Nurix Therapeutics by 42.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company’s stock worth $14,869,000 after purchasing an additional 235,971 shares during the last quarter. FMR LLC grew its holdings in shares of Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after buying an additional 511,256 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Nurix Therapeutics by 52.4% during the third quarter. Franklin Resources Inc. now owns 123,101 shares of the company’s stock worth $2,766,000 after buying an additional 42,315 shares in the last quarter.

Nurix Therapeutics Company Profile

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.