Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.
A number of other brokerages have also recently commented on NRIX. Stifel Nicolaus increased their target price on Nurix Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of Nurix Therapeutics in a report on Tuesday, August 4th. Jefferies Financial Group upped their price objective on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, Mizuho increased their price objective on Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.
Check Out Our Latest Stock Report on NRIX
Nurix Therapeutics Price Performance
Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) last released its quarterly earnings results on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The business had revenue of $9.04 million during the quarter, compared to analyst estimates of $15.29 million. On average, analysts forecast that Nurix Therapeutics will post -2.73 EPS for the current fiscal year.
Insider Activity at Nurix Therapeutics
In related news, CFO Hans van Houte sold 4,761 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the sale, the chief financial officer owned 40,166 shares in the company, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the sale, the insider owned 115,005 shares in the company, valued at approximately $2,300,100. This trade represents a 4.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,766 shares of company stock worth $626,343 in the last three months. Insiders own 6.70% of the company’s stock.
Institutional Investors Weigh In On Nurix Therapeutics
Hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC increased its stake in Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock valued at $29,000 after purchasing an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in Nurix Therapeutics in the 4th quarter worth about $31,000. Nykredit A S acquired a new stake in Nurix Therapeutics in the 2nd quarter worth about $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in Nurix Therapeutics in the 4th quarter valued at about $33,000. Finally, KBC Group NV purchased a new stake in Nurix Therapeutics in the 1st quarter valued at about $34,000.
Nurix Therapeutics Company Profile
Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.
The company’s pipeline includes multiple programs in various stages of development.
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