Nurix Therapeutics (NASDAQ:NRIX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report report published on Monday, Benzinga reports. They currently have a $31.00 price objective on the stock.

A number of other research firms also recently issued reports on NRIX. Morgan Stanley boosted their target price on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an equal weight rating in a research report on Monday, February 26th. Royal Bank of Canada upped their price objective on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the company an outperform rating in a report on Thursday, April 11th. Stephens assumed coverage on Nurix Therapeutics in a research note on Tuesday, May 14th. They issued an overweight rating and a $20.00 target price for the company. HC Wainwright dropped their price target on Nurix Therapeutics from $35.00 to $19.00 and set a buy rating on the stock in a research note on Tuesday, February 20th. Finally, Piper Sandler reissued an overweight rating and issued a $35.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $24.10.

Nurix Therapeutics Trading Up 0.7 %

Shares of Nurix Therapeutics stock opened at $15.29 on Monday. The business has a 50-day moving average price of $14.92 and a two-hundred day moving average price of $12.11. Nurix Therapeutics has a 1-year low of $4.22 and a 1-year high of $18.12. The company has a market cap of $751.52 million, a P/E ratio of -5.75 and a beta of 2.17.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The business had revenue of $16.59 million during the quarter, compared to analysts’ expectations of $14.58 million. Equities research analysts forecast that Nurix Therapeutics will post -3 EPS for the current fiscal year.

Insider Activity

In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $17.01, for a total transaction of $27,147.96. Following the transaction, the insider now directly owns 19,838 shares in the company, valued at approximately $337,444.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the completion of the sale, the insider now owns 19,838 shares in the company, valued at approximately $337,444.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Houte Hans Van sold 3,499 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the transaction, the chief financial officer now directly owns 68,333 shares in the company, valued at approximately $876,712.39. The disclosure for this sale can be found here. Insiders have sold 10,789 shares of company stock worth $152,023 over the last 90 days. 9.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Nurix Therapeutics by 351.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock worth $58,000 after buying an additional 4,367 shares during the last quarter. Quest Partners LLC bought a new stake in Nurix Therapeutics in the fourth quarter worth about $59,000. EntryPoint Capital LLC purchased a new position in Nurix Therapeutics in the first quarter valued at about $123,000. Jump Financial LLC bought a new position in shares of Nurix Therapeutics during the 4th quarter valued at approximately $158,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Nurix Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock worth $163,000 after purchasing an additional 4,012 shares during the last quarter.

Nurix Therapeutics Company Profile

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.