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

Needham & Company LLC reaffirmed their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a report published on Monday, Benzinga reports. The firm currently has a $29.00 price target on the stock.

A number of other equities analysts also recently issued reports on the company. HC Wainwright increased their price target on Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Royal Bank of Canada increased their target price on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Barclays upped their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Truist Financial initiated coverage on shares of Nurix Therapeutics in a research report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Nurix Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

Nurix Therapeutics Price Performance

NASDAQ:NRIX opened at $24.72 on Monday. The company’s fifty day moving average price is $23.64 and its 200-day moving average price is $19.50. Nurix Therapeutics has a 1-year low of $4.22 and a 1-year high of $26.43. The firm has a market capitalization of $1.22 billion, a P/E ratio of -8.47 and a beta of 2.22.

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

Insider Activity at Nurix Therapeutics

In related news, insider Christine Ring sold 3,290 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $25.00, for a total transaction of $82,250.00. Following the transaction, the insider now owns 24,592 shares of the company’s stock, valued at approximately $614,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nurix Therapeutics news, insider Christine Ring sold 3,290 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the sale, the insider now directly owns 24,592 shares in the company, valued at $614,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 2,490 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was 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 of the company’s stock, valued at approximately $1,126,080.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,105 shares of company stock worth $1,507,181. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NRIX. Acadian Asset Management LLC raised its position in shares of Nurix Therapeutics by 576.7% during the 1st quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock worth $2,355,000 after acquiring an additional 136,606 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Nurix Therapeutics by 365.0% during the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock worth $2,154,000 after buying an additional 81,005 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Nurix Therapeutics by 80.7% in the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock valued at $6,762,000 after buying an additional 144,700 shares in the last quarter. TD Asset Management Inc purchased a new position in shares of Nurix Therapeutics in the 2nd quarter valued at $593,000. Finally, Candriam S.C.A. raised its stake in 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 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.