Nurix Therapeutics (NASDAQ:NRIX) Given New $27.00 Price Target at Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX) had its price objective lowered by Needham & Company LLC from $28.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Morgan Stanley increased their price target on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Leerink Partnrs upgraded shares of Nurix Therapeutics to a “hold” rating in a report on Monday, March 17th. Royal Bank of Canada upped their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. Finally, Leerink Partners started coverage on Nurix Therapeutics in a research note on Monday, March 17th. They set a “market perform” rating and a $16.00 price target on the stock. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.44.

Nurix Therapeutics Stock Down 7.9 %

Shares of NASDAQ NRIX traded down $0.76 during trading on Wednesday, reaching $8.84. The company had a trading volume of 818,591 shares, compared to its average volume of 918,148. Nurix Therapeutics has a 12 month low of $8.19 and a 12 month high of $29.56. The stock has a market cap of $674.15 million, a P/E ratio of -3.06 and a beta of 2.23. The company’s fifty day moving average price is $14.42 and its 200-day moving average price is $19.39.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.05. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. The firm had revenue of $18.45 million during the quarter, compared to analyst estimates of $12.78 million. During the same quarter last year, the business earned ($0.76) EPS. As a group, equities analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at $1,110,349.45. This represents a 6.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the completion of the transaction, the chief financial officer now owns 39,549 shares in the company, valued at approximately $785,047.65. The trade was a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock worth $213,449 in the last quarter. 9.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in Nurix Therapeutics by 1,711.9% during the fourth quarter. FMR LLC now owns 10,634,231 shares of the company’s stock valued at $200,349,000 after purchasing an additional 10,047,329 shares during the last quarter. Vanguard Group Inc. grew its stake in Nurix Therapeutics by 8.3% in the 4th quarter. Vanguard Group Inc. now owns 4,345,266 shares of the company’s stock valued at $81,865,000 after buying an additional 333,452 shares in the last quarter. Wellington Management Group LLP raised its holdings in Nurix Therapeutics by 3.0% during the 4th quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company’s stock valued at $67,572,000 after acquiring an additional 104,500 shares during the period. Soleus Capital Management L.P. lifted its position in shares of Nurix Therapeutics by 97.3% during the fourth quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company’s stock worth $39,617,000 after acquiring an additional 1,036,999 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Nurix Therapeutics by 9.5% in the fourth quarter. Geode Capital Management LLC now owns 1,585,127 shares of the company’s stock worth $29,870,000 after acquiring an additional 137,087 shares during the period.

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.