Needham & Company LLC Reiterates “Buy” Rating for Nurix Therapeutics (NASDAQ:NRIX)

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

Several other equities analysts have also recently issued reports on the company. Barclays lifted their price target on Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer lifted their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a report on Friday, October 11th. They issued a “buy” rating and a $41.00 price target for the company. Truist Financial started coverage on shares of Nurix Therapeutics in a research report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Nurix Therapeutics Trading Up 1.7 %

NRIX opened at $25.48 on Monday. Nurix Therapeutics has a twelve month low of $4.22 and a twelve month high of $26.43. The stock has a market cap of $1.25 billion, a PE ratio of -8.73 and a beta of 2.22. The business’s 50 day moving average is $23.81 and its 200-day moving average is $19.73.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, meeting the consensus estimate of ($0.67). The firm had revenue of $12.59 million for 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%. As a group, analysts forecast that Nurix Therapeutics will post -2.95 EPS for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.43, for a total transaction of $123,436.80. Following the completion of the sale, the insider now directly owns 24,592 shares in the company, valued at $527,006.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.22, for a total value of $504,400.00. Following the transaction, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at $781,870.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christine Ring sold 5,760 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.43, for a total value of $123,436.80. Following the completion of the sale, the insider now directly owns 24,592 shares of the company’s stock, valued at $527,006.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,105 shares of company stock valued at $1,507,181 over the last quarter. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

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 during the second quarter valued at approximately $26,778,000. Redmile Group LLC boosted its position in 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 buying an additional 1,226,497 shares during the last quarter. Samlyn Capital LLC bought a new position in Nurix Therapeutics in the 2nd quarter valued at $12,177,000. Ikarian Capital LLC acquired a new stake in shares of Nurix Therapeutics in the 1st quarter valued at $4,410,000. Finally, Candriam S.C.A. raised its position in shares of Nurix Therapeutics by 30.5% during the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after acquiring 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.