Nurix Therapeutics, Inc. (NASDAQ:NRIX – Get Free Report) has been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $27.44.
NRIX has been the topic of a number of analyst reports. HC Wainwright increased their price objective on Nurix Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research note on Thursday, September 7th.
Nurix Therapeutics Price Performance
Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) last posted its earnings results on Thursday, July 13th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. The company had revenue of $30.68 million for the quarter, compared to analyst estimates of $21.96 million. Nurix Therapeutics had a negative return on equity of 53.36% and a negative net margin of 258.37%. Research analysts anticipate that Nurix Therapeutics will post -2.55 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Nurix Therapeutics
Several large investors have recently added to or reduced their stakes in NRIX. Allspring Global Investments Holdings LLC lifted its position in Nurix Therapeutics by 328.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,264 shares of the company’s stock worth $53,000 after buying an additional 4,036 shares during the period. Royal Bank of Canada lifted its position in Nurix Therapeutics by 112.9% during the second quarter. Royal Bank of Canada now owns 5,804 shares of the company’s stock worth $58,000 after buying an additional 3,078 shares during the period. Avalon Trust Co purchased a new position in shares of Nurix Therapeutics in the 1st quarter worth about $63,000. Quantbot Technologies LP raised its holdings in shares of Nurix Therapeutics by 211.1% in the 1st quarter. Quantbot Technologies LP now owns 5,600 shares of the company’s stock worth $78,000 after purchasing an additional 3,800 shares during the period. Finally, Natixis purchased a new position in shares of Nurix Therapeutics in the 4th quarter worth about $83,000. 90.36% of the stock is currently owned by hedge funds and other institutional investors.
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 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.
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