Nurix Therapeutics (NASDAQ:NRIX) Given New $28.00 Price Target at Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX) had its price target lowered by Needham & Company LLC from $29.00 to $28.00 in a report issued on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

NRIX has been the topic of several other research reports. Royal Bank of Canada lowered their target price 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. Stifel Nicolaus boosted their target price on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group started coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 price target on the stock. BTIG Research started coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $35.00 price target on the stock. Finally, UBS Group started coverage on shares of Nurix Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $35.00 price target on the stock. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $30.71.

Nurix Therapeutics Stock Up 0.5 %

Shares of Nurix Therapeutics stock opened at $19.65 on Wednesday. Nurix Therapeutics has a 52-week low of $7.79 and a 52-week high of $29.56. The company has a 50-day simple moving average of $20.20 and a two-hundred day simple moving average of $22.42.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. As a group, analysts anticipate that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,546 shares of Nurix Therapeutics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at $818,818.72. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Nurix Therapeutics during the third quarter worth approximately $12,432,000. FMR LLC raised its stake in shares of Nurix Therapeutics by 675.9% during the third quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after purchasing an additional 511,256 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Nurix Therapeutics during the third quarter worth approximately $7,879,000. Patient Square Capital LP purchased a new stake in shares of Nurix Therapeutics during the third quarter worth approximately $7,320,000. Finally, Wellington Management Group LLP grew its holdings in Nurix Therapeutics by 8.8% during the third quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock worth $78,243,000 after acquiring an additional 280,240 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.