Needham & Company LLC Reiterates Buy Rating for Nurix Therapeutics (NASDAQ:NRIX)

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $29.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 16.61% from the company’s current price.

NRIX has been the subject of a number of other reports. Truist Financial began coverage on shares of Nurix Therapeutics in a research note on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective for the company. Jefferies Financial Group began coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective for the company. Robert W. Baird began coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $26.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

Nurix Therapeutics Trading Down 1.2 %

Shares of NRIX stock opened at $24.87 on Monday. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $26.31. The stock has a market cap of $1.22 billion, a P/E ratio of -8.52 and a beta of 2.22. The company has a 50 day simple moving average of $23.44 and a two-hundred day simple moving average of $19.42.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $13.85 million. As a group, equities analysts forecast that Nurix Therapeutics will post -2.95 earnings per share for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the transaction, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the transaction, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christine Ring sold 9,870 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.01, for a total transaction of $246,848.70. Following the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $615,045.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,105 shares of company stock worth $1,507,181. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in Nurix Therapeutics by 41.6% in the 4th quarter. Wellington Management Group LLP now owns 205,324 shares of the company’s stock worth $2,119,000 after buying an additional 60,271 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Nurix Therapeutics by 67.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock valued at $138,000 after purchasing an additional 3,793 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Nurix Therapeutics during the 1st quarter valued at about $265,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Nurix Therapeutics by 27.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,904 shares of the company’s stock valued at $454,000 after buying an additional 6,628 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Nurix Therapeutics by 75.6% in the 1st quarter. Russell Investments Group Ltd. now owns 53,542 shares of the company’s stock valued at $787,000 after buying an additional 23,044 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.