Needham & Company LLC Reaffirms “Buy” Rating for Nurix Therapeutics (NASDAQ:NRIX)

Needham & Company LLC restated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note released on Wednesday,Benzinga reports. The brokerage currently has a $29.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Barclays raised their price target on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Jefferies Financial Group began coverage on Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 target price for the company. Truist Financial began coverage on Nurix Therapeutics in a research note on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price target on the stock. Oppenheimer raised their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, UBS Group initiated coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Nurix Therapeutics Price Performance

NASDAQ:NRIX opened at $27.34 on Wednesday. The business’s 50-day moving average is $24.35 and its two-hundred day moving average is $20.69. The firm has a market capitalization of $1.94 billion, a PE ratio of -9.40 and a beta of 2.20. Nurix Therapeutics has a 12 month low of $4.96 and a 12 month high of $28.42.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The firm had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. Equities analysts anticipate that Nurix Therapeutics will post -2.81 EPS for the current year.

Insider Activity

In related news, CFO Houte Hans Van sold 3,546 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $24.28, for a total transaction of $86,096.88. Following the sale, the chief financial officer now owns 33,724 shares in the company, valued at $818,818.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christine Ring sold 9,870 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.01, for a total transaction of $246,848.70. Following the completion of the transaction, the insider now owns 24,592 shares in the company, valued at $615,045.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Houte Hans Van sold 3,546 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $24.28, for a total value of $86,096.88. Following the transaction, the chief financial officer now owns 33,724 shares of the company’s stock, valued at $818,818.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 57,321 shares of company stock valued at $1,414,409. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank raised its stake in shares of Nurix Therapeutics by 30.6% in the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after buying an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nurix Therapeutics by 31.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after buying an additional 559 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Nurix Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock worth $176,000 after buying an additional 998 shares in the last quarter. Quest Partners LLC raised its stake in shares of Nurix Therapeutics by 21.3% in the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock worth $168,000 after buying an additional 1,312 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its stake in shares of Nurix Therapeutics by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $1,318,000 after buying an additional 1,766 shares in the last quarter.

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.