Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $29.00 at Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX) had its target price decreased by stock analysts at Needham & Company LLC from $31.00 to $29.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 31.64% from the company’s current price.

NRIX has been the topic of a number of other research reports. Robert W. Baird raised their price target on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. Stephens initiated coverage on shares of Nurix Therapeutics in a report on Tuesday, May 14th. They issued an “overweight” rating and a $20.00 target price on the stock. HC Wainwright increased their target price on Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada raised their target price on shares of Nurix Therapeutics from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.90.

Nurix Therapeutics Trading Up 8.8 %

Shares of NASDAQ NRIX opened at $22.03 on Friday. The stock has a market cap of $1.08 billion, a P/E ratio of -8.28 and a beta of 2.22. The stock has a 50 day moving average of $17.10 and a two-hundred day moving average of $13.52. Nurix Therapeutics has a twelve month low of $4.22 and a twelve month high of $22.79.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The firm had revenue of $16.59 million during the quarter, compared to the consensus estimate of $14.58 million. As a group, research analysts predict that Nurix Therapeutics will post -2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 3,499 shares of Nurix Therapeutics stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total value of $44,892.17. Following the completion of the sale, the chief financial officer now owns 68,333 shares of the company’s stock, valued at $876,712.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now directly owns 19,838 shares of the company’s stock, valued at $412,828.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Houte Hans Van sold 3,499 shares of the company’s 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 of the company’s stock, valued at approximately $876,712.39. The disclosure for this sale can be found here. Insiders have sold a total of 16,549 shares of company stock valued at $271,888 in the last quarter. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds have recently made changes to their positions in NRIX. China Universal Asset Management Co. Ltd. raised its position 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 period. Quest Partners LLC purchased a new position in shares of Nurix Therapeutics in the 4th quarter worth about $59,000. GAMMA Investing LLC lifted its stake in shares of Nurix Therapeutics by 299.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after purchasing an additional 3,424 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Nurix Therapeutics during the 1st quarter worth approximately $123,000. Finally, Jump Financial LLC purchased a new position in Nurix Therapeutics in the fourth quarter valued at approximately $158,000.

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.