Saturday, April 10, 2021

Market Analysts see Nurix Therapeutics Inc. [NRIX] gaining to $40. Time to buy?

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Nurix Therapeutics Inc. [NASDAQ: NRIX] price plunged by -13.27 percent to reach at -$5.06. The company report on March 16, 2021 that Nurix Therapeutics Announces Collaboration for the Discovery of Novel Drugs to Treat Pediatric Cancers.

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Research focused on targeted degradation of MYCN for the potential treatment of neuroblastoma and medulloblastomaProgram is one of four in Alex’s Lemonade Stand Foundation-funded $18.5 million Crazy 8 Initiative.


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Nurix Therapeutics, Inc. (Nasdaq: NRIX), a biopharmaceutical company developing targeted protein modulation drugs, announced that it is part of a collaboration sponsored by Alex’s Lemonade Stand Foundation (ALSF), a leading funder of pediatric cancer research, to develop a drug to potentially treat aggressive childhood cancers including neuroblastoma and medulloblastoma. Nurix will provide its extensive expertise in E3 ligases and use its proprietary DNA-encoded library to help identify small-molecule degraders of MYCN, a target previously considered undruggable. The program is one of four that are being supported by an $18.5 million grant from Alex’s Lemonade Stand Foundation’s Crazy 8 initiative, which is designed to bring together world-class research talent to accelerate the pace of new cure discovery in childhood cancer. For more information on this initiative see this morning’s statement from ALSF.

A sum of 3578443 shares traded at recent session while its average daily volume was at 385.15K shares. Nurix Therapeutics Inc. shares reached a high of $40.0432 and dropped to a low of $30.61 until finishing in the latest session at $33.06.

The one-year NRIX stock forecast points to a potential upside of 36.67. The average equity rating for NRIX stock is currently 1.60, 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 $52.20 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 1.60. 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.

Robert W. Baird have made an estimate for Nurix Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 19, 2020. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. 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 $40, while Piper Sandler analysts kept a Overweight rating on NRIX stock.

The Average True Range (ATR) for Nurix Therapeutics Inc. is set at 4.85, with the Price to Sales ratio for NRIX stock in the period of the last 12 months amounting to 92.87. The Price to Book ratio for the last quarter was 1.18, with the Price to Cash per share for the same quarter was set at 5.62.

NRIX Stock Performance Analysis:

Nurix Therapeutics Inc. [NRIX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.14. With this latest performance, NRIX shares dropped by -6.69% in over the last four-week period, additionally plugging by 4.26% over the last 6 months.

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. The current RSI for NRIX stock in for the last two-week period is set at 40.57, with the RSI for the last a single of trading hit 35.65, and the three-weeks RSI is set at 43.33 for Nurix Therapeutics Inc. [NRIX]. The present Moving Average for the last 50 days of trading for this stock 39.52, while it was recorded at 41.33 for the last single week of trading.

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 -364.66. Nurix Therapeutics Inc.’s Net Margin is presently recorded at -242.66.

Return on Total Capital for NRIX is now -46.29, given the latest momentum, and Return on Invested Capital for the company is -30.80. Return on Equity for this stock declined to -30.80, with Return on Assets sitting at -19.64.

Reflecting on the efficiency of the workforce at the company, Nurix Therapeutics Inc. [NRIX] managed to generate an average of -$320,311 per employee. Receivables Turnover for the company is 3.14 with a Total Asset Turnover recorded at a value of 0.08.Nurix Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.70 and a Current Ratio set at 6.70.

Nurix Therapeutics Inc. [NRIX] Insider Position Details

There are presently around $1,319 million, or 78.30% of NRIX stock, in the hands of institutional investors. The top three institutional holders of NRIX stocks are: SVENNILSON PETER with ownership of 6,755,881, which is approximately New of the company’s market cap and around 9.41% of the total institutional ownership; TRV GP III, LLC, holding 5,422,549 shares of the stock with an approximate value of $179.27 million in NRIX stocks shares; and COLUMN GROUP LLC, currently with $177.97 million in NRIX stock with ownership of nearly New of the company’s market capitalization.

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Positions in Nurix Therapeutics Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 43 institutional holders increased their position in Nurix Therapeutics Inc. [NASDAQ:NRIX] by around 16,536,581 shares. Additionally, 24 investors decreased positions by around 1,741,070 shares, while 14 investors held positions by with 21,616,894 shares. The mentioned changes placed institutional holdings at 39,894,545 shares, according to the latest SEC report filing. NRIX stock had 16 new institutional investments in for a total of 14,317,741 shares, while 12 institutional investors sold positions of 278,163 shares during the same period.

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