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

Analysts at Leerink Partners initiated coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a report released on Monday, Marketbeat reports. The firm set a “market perform” rating and a $16.00 price target on the stock. Leerink Partners’ target price would indicate a potential upside of 17.13% from the stock’s previous close.

Several other research firms have also issued reports on NRIX. Stifel Nicolaus lifted their price objective on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. BTIG Research began coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $35.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Needham & Company LLC reduced their price objective on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Nurix Therapeutics Stock Down 1.9 %

NRIX stock opened at $13.66 on Monday. Nurix Therapeutics has a 12-month low of $11.90 and a 12-month high of $29.56. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -4.73 and a beta of 2.18. The company has a 50 day moving average of $17.33 and a two-hundred day moving average of $20.98.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that Nurix Therapeutics will post -2.99 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,690 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the transaction, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 5,825 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the transaction, the chief financial officer now owns 33,724 shares in the company, valued at approximately $488,660.76. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,326 shares of company stock worth $213,449. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NRIX. FMR LLC increased its holdings in shares of Nurix Therapeutics by 1,711.9% during the 4th quarter. FMR LLC now owns 10,634,231 shares of the company’s stock worth $200,349,000 after purchasing an additional 10,047,329 shares during the period. RA Capital Management L.P. bought a new stake in Nurix Therapeutics in the fourth quarter valued at about $25,120,000. Soleus Capital Management L.P. increased its stake in Nurix Therapeutics by 97.3% in the fourth quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company’s stock valued at $39,617,000 after acquiring an additional 1,036,999 shares during the period. Point72 Asset Management L.P. bought a new stake in Nurix Therapeutics in the fourth quarter valued at about $16,447,000. Finally, Boxer Capital Management LLC bought a new stake in Nurix Therapeutics in the fourth quarter valued at about $10,608,000.

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.