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

Needham & Company LLC reaffirmed their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note issued to investors on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $29.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Oppenheimer boosted their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Jefferies Financial Group started coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price target on the stock. Robert W. Baird initiated coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $26.00 price objective for the company. Truist Financial started coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 target price for the company. Finally, Barclays increased their price target on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Nurix Therapeutics Trading Up 6.2 %

NRIX stock opened at $27.00 on Wednesday. The business’s 50 day moving average price is $24.22 and its two-hundred day moving average price is $20.50. Nurix Therapeutics has a fifty-two week low of $4.96 and a fifty-two week high of $27.60.

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). The firm had revenue of $12.59 million for the quarter, compared to analysts’ expectations of $13.85 million. Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. Equities research analysts anticipate that Nurix Therapeutics will post -2.84 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at $781,870.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Nurix Therapeutics news, insider Christine Ring sold 9,870 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.01, for a total value of $246,848.70. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $615,045.92. This trade represents 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 accessible through this hyperlink. Also, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at approximately $781,870.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,321 shares of company stock worth $1,414,409. 9.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NRIX. Victory Capital Management Inc. bought a new position in shares of Nurix Therapeutics in the third quarter worth about $484,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Nurix Therapeutics during the 3rd quarter worth approximately $12,432,000. Amalgamated Bank lifted its holdings in Nurix Therapeutics by 30.6% during the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after purchasing an additional 511 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Nurix Therapeutics by 77.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,388 shares of the company’s stock worth $278,000 after purchasing an additional 5,419 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after purchasing an additional 559 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.