Nurix Therapeutics Inc. [NASDAQ: NRIX] price surged by 9.43 percent to reach at $2.99. The company report on July 23, 2020 that Nurix Therapeutics Announces Pricing of $209 Million Initial Public Offering.
Nurix Therapeutics, Inc. (Nurix), a company developing targeted protein modulation drugs, today announced the pricing of its initial public offering of 11,000,000 shares of its common stock at a price to the public of $19.00 per share. All of the shares are being offered by Nurix. The shares are expected to begin trading on The Nasdaq Global Market on July 24, 2020 under the symbol “NRIX.” The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Nurix, are expected to be $209 million. In addition, Nurix has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on July 28, 2020, subject to the satisfaction of customary closing conditions.
J.P. Morgan, Piper Sandler and Stifel are acting as joint bookrunning managers for the proposed offering. Needham & Company is acting as lead manager.
A sum of 1937260 shares traded at recent session while its average daily volume was at 365.07K shares. Nurix Therapeutics Inc. shares reached a high of $37.46 and dropped to a low of $30.09 until finishing in the latest session at $34.70.
The one-year NRIX stock forecast points to a potential upside of 3.61. The average equity rating for NRIX stock is currently 1.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Nurix Therapeutics Inc. [NRIX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NRIX shares is $36.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NRIX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Nurix Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 18, 2020. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on August 18, 2020, representing the official price target for Nurix Therapeutics Inc. stock. Previously, the target price had yet another raise to $35, while Needham analysts kept a Buy rating on NRIX stock.
The Average True Range (ATR) for Nurix Therapeutics Inc. is set at 3.75, with the Price to Sales ratio for NRIX stock in the period of the last 12 months amounting to 60.24.
NRIX Stock Performance Analysis:
Nurix Therapeutics Inc. [NRIX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.40.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum.
Insight into Nurix Therapeutics Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Nurix Therapeutics Inc. [NRIX] shares currently have an operating margin of -71.46. Nurix Therapeutics Inc.’s Net Margin is presently recorded at -69.74.
Return on Total Capital for NRIX is now -2,431.49, given the latest momentum, and Return on Invested Capital for the company is -2,372.77. Return on Equity for this stock declined to -2,372.77, with Return on Assets sitting at -48.52.
Reflecting on the efficiency of the workforce at the company, Nurix Therapeutics Inc. [NRIX] managed to generate an average of -$233,323 per employee.Nurix Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.70 and a Current Ratio set at 5.70.