Needham & Company LLC Reaffirms Buy Rating for Nurix Therapeutics (NASDAQ:NRIX)

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

Other research analysts have also recently issued research reports about the company. Barclays increased their price objective on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Truist Financial assumed coverage on Nurix Therapeutics in a research report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price target for the company. 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 price target for the company. Oppenheimer raised their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada raised their price target on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $25.81 on Monday. The stock has a fifty day moving average price of $23.55 and a 200 day moving average price of $19.47. Nurix Therapeutics has a 1-year low of $4.22 and a 1-year high of $26.31. The company has a market cap of $1.27 billion, a PE ratio of -8.84 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting the consensus estimate of ($0.67). The firm had revenue of $12.59 million during 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%. Analysts anticipate that Nurix Therapeutics will post -2.95 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,408 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $70,443.36. Following the sale, the insider now directly owns 45,150 shares in the company, valued at approximately $933,250.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,408 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $70,443.36. Following the sale, the insider now directly owns 45,150 shares in the company, valued at $933,250.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics 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 $51,468.30. Following the sale, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,105 shares of company stock worth $1,507,181. 7.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently made changes to their positions in NRIX. Driehaus Capital Management LLC bought a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $26,778,000. Redmile Group LLC increased its holdings in shares of Nurix Therapeutics by 37.7% in the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after acquiring an additional 1,226,497 shares during the last quarter. Samlyn Capital LLC acquired a new position in Nurix Therapeutics during the 2nd quarter valued at approximately $12,177,000. Ikarian Capital LLC acquired a new position in Nurix Therapeutics during the 1st quarter valued at approximately $4,410,000. Finally, Candriam S.C.A. boosted its position 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 valued at $24,297,000 after purchasing an additional 272,136 shares during the period.

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.