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

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

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Jefferies Financial Group initiated coverage on Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective for the company. Barclays boosted their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Oppenheimer raised their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Robert W. Baird started coverage on Nurix Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $26.00 price target for the company. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.71.

Nurix Therapeutics Stock Performance

NASDAQ NRIX opened at $24.72 on Monday. Nurix Therapeutics has a one year low of $4.22 and a one year high of $26.43. The firm has a market cap of $1.22 billion, a PE ratio of -8.47 and a beta of 2.22. The firm’s fifty day moving average is $23.64 and its two-hundred day moving average is $19.50.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The company had revenue of $12.59 million for the quarter, compared to analysts’ expectations of $13.85 million. Research analysts predict that Nurix Therapeutics will post -2.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Christine Ring sold 5,760 shares of the business’s 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 in the company, valued at approximately $527,006.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the sale, the chief financial officer now owns 31,002 shares of the company’s stock, valued at approximately $781,870.44. The trade was 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 accessible through this hyperlink. Also, insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.43, for a total value of $123,436.80. Following the completion of the transaction, the insider now owns 24,592 shares in the company, valued at approximately $527,006.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,105 shares of company stock valued at $1,507,181. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds have recently made changes to their positions in the business. Redmile Group LLC raised its holdings in shares of Nurix Therapeutics by 37.7% during 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 period. Driehaus Capital Management LLC acquired a new position in shares of Nurix Therapeutics during the second quarter worth $26,778,000. Candriam S.C.A. boosted its stake in shares of Nurix Therapeutics by 30.5% in the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after purchasing an additional 272,136 shares during the period. Affinity Asset Advisors LLC boosted its stake in shares of Nurix Therapeutics by 12.6% in the second quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock valued at $19,033,000 after purchasing an additional 101,747 shares during the period. Finally, Millennium Management LLC grew its holdings in Nurix Therapeutics by 60.2% during the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock valued at $12,514,000 after purchasing an additional 225,374 shares in the last quarter.

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.