Nurix Therapeutics (NASDAQ:NRIX) Announces Quarterly Earnings Results

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

Nurix Therapeutics Stock Down 4.7 %

Shares of NASDAQ:NRIX opened at $9.26 on Wednesday. Nurix Therapeutics has a 52-week low of $8.60 and a 52-week high of $29.56. The stock has a market cap of $705.95 million, a P/E ratio of -3.20 and a beta of 2.23. The business has a fifty day moving average of $14.83 and a two-hundred day moving average of $19.56.

Wall Street Analysts Forecast Growth

NRIX has been the topic of a number of analyst reports. BTIG Research assumed coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Needham & Company LLC cut their price target on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley increased their price target on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada upped their target price on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the transaction, the insider now owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 5,825 shares of the firm’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 transaction, the chief financial officer now owns 33,724 shares of the company’s stock, valued at $488,660.76. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,326 shares of company stock worth $213,449 in the last quarter. Company insiders own 9.80% of the company’s stock.

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.