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

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $34.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 37.71% from the company’s previous close.

Several other research firms have also recently issued reports on NRIX. Robert W. Baird increased their target price on shares of Nurix Therapeutics from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Oppenheimer started coverage on shares of Nurix Therapeutics in a research report on Monday, June 29th. They set an “outperform” rating and a $28.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target (up from $32.00) on shares of Nurix Therapeutics in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Tuesday, April 21st. Finally, Truist Financial lifted their price objective on Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Nurix Therapeutics Stock Up 1.6%

Shares of NRIX opened at $24.69 on Friday. Nurix Therapeutics has a twelve month low of $8.19 and a twelve month high of $25.09. The stock has a market cap of $2.55 billion, a PE ratio of -7.81 and a beta of 1.80. The business’s 50-day moving average price is $18.31 and its 200-day moving average price is $17.33.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.09). The firm had revenue of $9.04 million during the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. Analysts expect that Nurix Therapeutics will post -2.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 5,394 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the transaction, the insider owned 115,005 shares of the company’s stock, valued at $2,300,100. The trade was a 4.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the transaction, the chief financial officer directly owned 37,592 shares in the company, valued at $624,027.20. The trade was a 27.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,051 shares of company stock worth $434,466 over the last ninety days. 6.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nurix Therapeutics by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock valued at $593,000 after acquiring an additional 5,286 shares during the last quarter. Millennium Management LLC lifted its stake in Nurix Therapeutics by 106.2% during the first quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock worth $10,388,000 after purchasing an additional 450,262 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Nurix Therapeutics by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock worth $6,029,000 after purchasing an additional 44,002 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Nurix Therapeutics by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock worth $1,895,000 after purchasing an additional 12,817 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Nurix Therapeutics in the 2nd quarter worth about $187,000.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.