Leerink Partners Begins Coverage on Nurix Therapeutics (NASDAQ:NRIX)

Analysts at Leerink Partners started coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “market perform” rating and a $16.00 price target on the stock. Leerink Partners’ price target indicates a potential upside of 17.73% from the stock’s current price.

NRIX has been the subject of several other research reports. HC Wainwright increased their price target on Nurix Therapeutics from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. BTIG Research assumed coverage on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $35.00 target price for the company. Stephens restated an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Royal Bank of Canada increased their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, BMO Capital Markets initiated coverage on shares of Nurix Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.88.

Nurix Therapeutics Trading Up 3.0 %

Shares of NRIX stock opened at $13.59 on Monday. The business’s 50-day moving average price is $17.54 and its 200-day moving average price is $21.14. Nurix Therapeutics has a 12 month low of $11.90 and a 12 month high of $29.56. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.70 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 net margin of 354.85% and a negative return on equity of 53.65%. On average, sell-side analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 5,825 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.49, for a total value of $84,404.25. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gwenn Hansen sold 3,690 shares of the business’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 directly owns 55,937 shares of the company’s stock, valued at $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock valued at $213,449 over the last ninety days. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several large investors have recently bought and sold shares of NRIX. GF Fund Management CO. LTD. purchased a new position in Nurix Therapeutics during the fourth quarter worth about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Nurix Therapeutics by 14.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 146,713 shares of the company’s stock worth $2,764,000 after buying an additional 18,189 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Nurix Therapeutics by 0.5% in the fourth quarter. Woodline Partners LP now owns 338,462 shares of the company’s stock valued at $6,377,000 after acquiring an additional 1,583 shares in the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $1,844,000. Finally, Vestal Point Capital LP lifted its holdings in Nurix Therapeutics by 14.1% during the fourth quarter. Vestal Point Capital LP now owns 485,000 shares of the company’s stock worth $9,137,000 after acquiring an additional 60,000 shares during the period.

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.