Nurix Therapeutics (NASDAQ:NRIX) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note published on Monday, Benzinga reports. Needham & Company LLC currently has a $29.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Stephens restated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a report on Monday, October 14th. Barclays boosted their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Truist Financial started coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Oppenheimer lifted their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $29.40.

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $25.22 on Monday. The company has a 50-day simple moving average of $23.95 and a two-hundred day simple moving average of $19.84. Nurix Therapeutics has a one year low of $4.22 and a one year high of $26.43.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results 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 313.65% and a negative return on equity of 63.39%. The firm had revenue of $12.59 million during the quarter, compared to analyst estimates of $13.85 million. As a group, equities research analysts predict that Nurix Therapeutics will post -2.84 EPS for the current year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,490 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the sale, the chief financial officer now owns 54,479 shares in the company, valued at $1,126,080.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction 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 sale, the insider now owns 24,592 shares in the company, valued at $527,006.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 2,490 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares in the company, valued at approximately $1,126,080.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,105 shares of company stock valued at $1,507,181. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently made changes to their positions in the business. Redmile Group LLC raised its position 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 in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at about $26,778,000. Candriam S.C.A. raised its position in shares of Nurix Therapeutics by 30.5% during the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after buying an additional 272,136 shares in the last quarter. Affinity Asset Advisors LLC raised its position in shares of Nurix Therapeutics by 12.6% during the 2nd quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock valued at $19,033,000 after buying an additional 101,747 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of 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 buying 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.