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

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

Other research analysts have also recently issued reports about the company. Robert W. Baird assumed coverage on Nurix Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $26.00 target price for the company. Jefferies Financial Group assumed coverage on Nurix Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $41.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Truist Financial assumed coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price target for the company. Finally, Oppenheimer raised their price objective on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Nurix Therapeutics Stock Down 2.9 %

NRIX opened at $24.78 on Monday. Nurix Therapeutics has a 52 week low of $4.22 and a 52 week high of $26.43. The business has a fifty day simple moving average of $23.89 and a 200-day simple moving average of $19.81. The firm has a market cap of $1.22 billion, a P/E ratio of -8.49 and a beta of 2.22.

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

Insider Activity

In other news, insider Gwenn Hansen sold 3,408 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the transaction, the insider now owns 45,150 shares of the company’s stock, valued at approximately $933,250.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Nurix Therapeutics news, insider Christine Ring sold 3,290 shares of Nurix Therapeutics stock in a transaction that occurred on 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 owns 24,592 shares of the company’s stock, valued at approximately $614,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 3,408 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the transaction, the insider now directly owns 45,150 shares of the company’s stock, valued at approximately $933,250.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,105 shares of company stock valued at $1,507,181. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC increased its holdings in shares of Nurix Therapeutics by 576.7% in the 1st quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock valued at $2,355,000 after purchasing an additional 136,606 shares in the last quarter. SG Americas Securities LLC increased its holdings in Nurix Therapeutics by 365.0% in the second quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock valued at $2,154,000 after buying an additional 81,005 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Nurix Therapeutics by 80.7% during the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after acquiring an additional 144,700 shares in the last quarter. TD Asset Management Inc acquired a new stake in shares of Nurix Therapeutics in the 2nd quarter worth approximately $593,000. Finally, Candriam S.C.A. grew its holdings in Nurix Therapeutics by 30.5% in the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after purchasing an additional 272,136 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.