Nurix Therapeutics’ (NRIX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $36.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. Leerink Partnrs raised Nurix Therapeutics to a “hold” rating in a research note on Monday, March 17th. BTIG Research began coverage on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 target price for the company. Stifel Nicolaus increased their price target on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. BMO Capital Markets assumed coverage on shares of Nurix Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, Leerink Partners began coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They set a “market perform” rating and a $16.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Nurix Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $30.88.

Nurix Therapeutics Stock Up 8.7 %

Nurix Therapeutics stock opened at $11.38 on Wednesday. Nurix Therapeutics has a 12 month low of $10.21 and a 12 month high of $29.56. The stock has a market cap of $863.59 million, a P/E ratio of -3.94 and a beta of 2.18. The company’s fifty day simple moving average is $15.84 and its 200-day simple moving average is $20.10.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 5,825 shares of the business’s stock in a transaction dated 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 owns 33,724 shares in the company, valued at approximately $488,660.76. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of the company’s 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 transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at $1,110,349.45. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock worth $213,449 in the last 90 days. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Nurix Therapeutics by 32.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 30,383 shares of the company’s stock worth $683,000 after acquiring an additional 7,441 shares during the period. FMR LLC raised its stake in shares of Nurix Therapeutics by 675.9% in the third quarter. FMR LLC now owns 586,902 shares of the company’s stock valued at $13,188,000 after purchasing an additional 511,256 shares in the last quarter. Patient Square Capital LP acquired a new position in shares of Nurix Therapeutics in the third quarter valued at $7,320,000. Polar Asset Management Partners Inc. bought a new position in Nurix Therapeutics in the third quarter worth $607,000. Finally, Quarry LP boosted its stake in Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after buying an additional 2,435 shares in the last quarter.

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.