Nurix Therapeutics (NASDAQ:NRIX) Stock Rating Reaffirmed by Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Monday, Benzinga reports. They currently have a $29.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 13.64% from the company’s previous close.

Several other brokerages also recently commented on NRIX. Jefferies Financial Group started coverage on shares of Nurix Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $41.00 target price on the stock. Robert W. Baird initiated coverage on shares of Nurix Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price objective on the stock. Truist Financial initiated coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada lowered their price objective on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Nurix Therapeutics Price Performance

Shares of Nurix Therapeutics stock opened at $25.52 on Monday. Nurix Therapeutics has a 52-week low of $4.22 and a 52-week high of $26.43. The company’s fifty day moving average price is $23.89 and its two-hundred day moving average price is $19.81. The firm has a market capitalization of $1.25 billion, a PE ratio of -8.74 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The business had revenue of $12.59 million for the quarter, compared to the consensus estimate of $13.85 million. Analysts predict that Nurix Therapeutics will post -2.95 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,490 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the sale, the chief financial officer now directly owns 54,479 shares in the company, valued at approximately $1,126,080.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Houte Hans Van sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $51,468.30. Following the sale, the chief financial officer now directly owns 54,479 shares in the company, valued at $1,126,080.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christine Ring sold 3,290 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total value of $82,250.00. Following the completion of the sale, the insider now owns 24,592 shares in the company, valued at $614,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,105 shares of company stock worth $1,507,181. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors have recently modified their holdings of NRIX. Driehaus Capital Management LLC purchased a new stake in Nurix Therapeutics in the 2nd quarter valued at $26,778,000. Redmile Group LLC grew its stake in shares of Nurix Therapeutics by 37.7% during the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock worth $65,900,000 after acquiring an additional 1,226,497 shares during the period. Samlyn Capital LLC bought a new position in shares of Nurix Therapeutics during the 2nd quarter worth $12,177,000. Ikarian Capital LLC bought a new position in shares of Nurix Therapeutics during the 1st quarter worth $4,410,000. Finally, Candriam S.C.A. grew its stake in shares of Nurix Therapeutics by 30.5% during the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after acquiring an additional 272,136 shares during the period.

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.