Nurix Therapeutics’ (NRIX) “Buy” Rating Reaffirmed at Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They presently have a $29.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 22.73% from the company’s current price.

A number of other brokerages have also recently issued reports on NRIX. Robert W. Baird assumed coverage on Nurix Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $26.00 price objective for the company. Jefferies Financial Group assumed coverage on Nurix Therapeutics in a research note on Friday. They issued a “buy” rating and a $41.00 price target for the company. HC Wainwright increased their price objective on Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Barclays upped their price target on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Oppenheimer lifted their price objective on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Nurix Therapeutics Stock Up 8.1 %

Shares of Nurix Therapeutics stock opened at $23.63 on Monday. The stock has a market cap of $1.16 billion, a P/E ratio of -8.09 and a beta of 2.22. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $26.31. The business’s 50 day moving average is $23.27 and its 200-day moving average is $19.28.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly 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 firm had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. On average, sell-side analysts expect that Nurix Therapeutics will post -2.95 EPS for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $22.23, for a total value of $128,044.80. Following the completion of the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $546,680.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics 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 transaction, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at $1,126,080.93. The trade was 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 the SEC website. Also, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $22.23, for a total value of $128,044.80. Following the completion of the sale, the insider now owns 24,592 shares in the company, valued at $546,680.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,815 shares of company stock worth $1,424,931 in the last ninety days. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NRIX. Wellington Management Group LLP increased its position in shares of Nurix Therapeutics by 41.6% during the fourth 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. boosted its position in Nurix Therapeutics by 67.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock valued at $138,000 after acquiring an additional 3,793 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Nurix Therapeutics during the 1st quarter worth about $265,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $454,000 after acquiring an additional 6,628 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake 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 purchasing an additional 23,044 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.