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

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $29.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 15.77% from the stock’s current price.

NRIX has been the subject of a number of other reports. Barclays lifted 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. Robert W. Baird assumed coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $26.00 price target on the stock. Stephens restated an “overweight” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research report on Monday, October 14th. Jefferies Financial Group assumed coverage on Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Truist Financial started coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Nurix Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $29.00.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX opened at $25.05 on Monday. Nurix Therapeutics has a 52-week low of $4.22 and a 52-week high of $26.43. The company has a market capitalization of $1.23 billion, a P/E ratio of -8.58 and a beta of 2.22. The company has a 50-day simple moving average of $23.73 and a 200 day simple moving average of $19.65.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.67). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The firm had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. As a group, equities analysts forecast that Nurix Therapeutics will post -2.95 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Nurix Therapeutics in the third quarter valued at approximately $3,152,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Nurix Therapeutics in the 2nd quarter valued at $578,000. Driehaus Capital Management LLC acquired a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at $26,778,000. The Manufacturers Life Insurance Company grew its position in Nurix Therapeutics by 25.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,942 shares of the company’s stock worth $479,000 after acquiring an additional 4,583 shares during the last quarter. Finally, Millennium Management LLC grew its position in Nurix Therapeutics by 60.2% during the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after acquiring an additional 225,374 shares during 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.