Nurix Therapeutics (NASDAQ:NRIX) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a report issued on Monday, Benzinga reports. The brokerage currently has a $31.00 price target on the stock.

A number of other research analysts have also weighed in on the company. HC Wainwright reduced their price objective on Nurix Therapeutics from $35.00 to $19.00 and set a buy rating for the company in a research report on Tuesday, February 20th. Stephens began coverage on Nurix Therapeutics in a research report on Tuesday, May 14th. They issued an overweight rating and a $20.00 price target for the company. Piper Sandler reissued an overweight rating and set a $35.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. Morgan Stanley lifted their target price on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the stock an equal weight rating in a report on Monday, February 26th. Finally, Robert W. Baird upped their target price on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $24.80.

Nurix Therapeutics Trading Up 13.7 %

Shares of NRIX stock opened at $20.97 on Monday. The company’s fifty day moving average price is $14.99 and its 200-day moving average price is $12.24. The stock has a market cap of $1.03 billion, a PE ratio of -7.88 and a beta of 2.17. Nurix Therapeutics has a 12 month low of $4.22 and a 12 month high of $21.16.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $16.59 million for the quarter, compared to analysts’ expectations of $14.58 million. On average, sell-side analysts forecast that Nurix Therapeutics will post -3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christine Ring sold 1,900 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $17.01, for a total transaction of $32,319.00. Following the transaction, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Christine Ring sold 1,900 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $17.01, for a total transaction of $32,319.00. Following the completion of the sale, the insider now owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 3,499 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 68,333 shares in the company, valued at approximately $876,712.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,789 shares of company stock valued at $152,023. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NRIX. China Universal Asset Management Co. Ltd. grew its holdings in Nurix Therapeutics by 351.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after purchasing an additional 4,367 shares during the period. Quest Partners LLC purchased a new position in shares of Nurix Therapeutics during the 4th quarter valued at about $59,000. EntryPoint Capital LLC bought a new position in shares of Nurix Therapeutics during the 1st quarter valued at approximately $123,000. ProShare Advisors LLC increased its holdings in Nurix Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock worth $176,000 after acquiring an additional 998 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Nurix Therapeutics during the 4th quarter worth approximately $1,175,000.

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.