Nurix Therapeutics (NASDAQ:NRIX) Upgraded to “Hold” at Leerink Partnrs

Nurix Therapeutics (NASDAQ:NRIX) was upgraded by equities researchers at Leerink Partnrs to a “hold” rating in a research note issued on Monday,Zacks.com reports. Leerink Partnrs also issued estimates for Nurix Therapeutics’ Q1 2025 earnings at ($0.89) EPS and Q2 2025 earnings at ($0.93) EPS.

Several other research analysts have also recently weighed in on NRIX. JPMorgan Chase & Co. reduced their price objective on Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada upped their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley upped their price objective on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Needham & Company LLC reduced their price objective on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, HC Wainwright upped their price objective on Nurix Therapeutics from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Nurix Therapeutics Price Performance

Shares of Nurix Therapeutics stock opened at $13.66 on Monday. Nurix Therapeutics has a 1 year low of $11.90 and a 1 year high of $29.56. The business has a 50-day moving average of $17.33 and a two-hundred day moving average of $20.98. The company has a market capitalization of $1.04 billion, a P/E ratio of -4.73 and a beta of 2.18.

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

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the sale, the insider now owns 55,937 shares in the company, valued at $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Houte Hans Van sold 5,825 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total value of $84,404.25. Following the completion of the sale, the chief financial officer now owns 33,724 shares in the company, valued at $488,660.76. This represents a 14.73 % 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 over the last 90 days. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently made changes to their positions in NRIX. Victory Capital Management Inc. bought a new position in shares of Nurix Therapeutics during the third quarter worth approximately $484,000. Quest Partners LLC increased its stake in shares of Nurix Therapeutics by 21.3% during the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock worth $168,000 after purchasing an additional 1,312 shares during the period. Intech Investment Management LLC bought a new position in shares of Nurix Therapeutics during the third quarter worth approximately $425,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Nurix Therapeutics during the third quarter worth approximately $530,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Nurix Therapeutics by 32.4% during the third quarter. The Manufacturers Life Insurance Company now owns 30,383 shares of the company’s stock worth $683,000 after purchasing an additional 7,441 shares during the period.

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.