Nurix Therapeutics (NASDAQ:NRIX) Receives Buy Rating from Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They presently have a $29.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 14.04% from the stock’s current price.

Other equities analysts have also issued research reports about the company. HC Wainwright raised their target price on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada decreased their target price on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price target 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. Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 price objective for the company. Finally, Barclays increased their price target on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Nurix Therapeutics Stock Performance

Shares of NRIX stock opened at $25.43 on Wednesday. Nurix Therapeutics has a fifty-two week low of $4.96 and a fifty-two week high of $27.60. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -8.74 and a beta of 2.20. The stock’s 50-day simple moving average is $24.21 and its 200-day simple moving average is $20.42.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The company had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. As a group, equities analysts forecast that Nurix Therapeutics will post -2.84 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In related news, insider Christine Ring sold 9,870 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.01, for a total transaction of $246,848.70. Following the completion of the transaction, the insider now owns 24,592 shares in the company, valued at $615,045.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christine Ring sold 9,870 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.01, for a total transaction of $246,848.70. Following the completion of the sale, the insider now directly owns 24,592 shares in the company, valued at approximately $615,045.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 20,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $25.22, for a total value of $504,400.00. Following the completion of the transaction, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at approximately $781,870.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,321 shares of company stock valued at $1,414,409 over the last ninety days. Corporate insiders own 9.80% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several large investors have recently bought and sold shares of NRIX. Amalgamated Bank lifted its stake in Nurix Therapeutics by 30.6% in the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after purchasing an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Nurix Therapeutics by 31.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after buying an additional 559 shares in the last quarter. GAMMA Investing LLC boosted its stake in Nurix Therapeutics by 299.8% during the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after buying an additional 3,424 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Nurix Therapeutics by 1,098.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after buying an additional 4,119 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Nurix Therapeutics in the 1st quarter worth $123,000.

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.