Nurix Therapeutics (NASDAQ:NRIX) Posts Earnings Results

Nurix Therapeutics (NASDAQ:NRIX) released its earnings results on Tuesday. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.05, Zacks reports. The company had revenue of $18.45 million during the quarter, compared to analysts’ expectations of $12.78 million. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. During the same period in the prior year, the business posted ($0.76) EPS.

Nurix Therapeutics Trading Down 4.7 %

NRIX stock opened at $9.26 on Wednesday. The firm’s 50-day moving average is $14.83 and its two-hundred day moving average is $19.56. The company has a market capitalization of $705.95 million, a price-to-earnings ratio of -3.20 and a beta of 2.23. Nurix Therapeutics has a 52 week low of $8.60 and a 52 week high of $29.56.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NRIX shares. Morgan Stanley raised their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Stifel Nicolaus boosted their price objective on Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Leerink Partners assumed coverage on Nurix Therapeutics in a research note on Monday, March 17th. They set a “market perform” rating and a $16.00 price objective on the stock. Royal Bank of Canada upped their price target on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a 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 stock. According to data from MarketBeat, Nurix Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $30.88.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction on Thursday, January 30th. The stock was 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 in the company, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Houte Hans Van sold 5,825 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $488,660.76. This trade 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 quarter. 9.80% of the stock is currently owned by company insiders.

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.