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 research report report published on Monday, Benzinga reports. Needham & Company LLC currently has a $29.00 price target on the stock.

NRIX has been the topic of several other reports. Truist Financial initiated coverage on Nurix Therapeutics in a research report on Wednesday, July 31st. They set a buy rating and a $36.00 price objective on the stock. Oppenheimer upped 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. Robert W. Baird initiated coverage on Nurix Therapeutics in a report on Friday, September 6th. They set an outperform rating and a $26.00 target price on the stock. Royal Bank of Canada upped their target price on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an outperform rating in a report on Friday, July 12th. Finally, HC Wainwright upped their target price on Nurix Therapeutics from $19.00 to $26.00 and gave the stock a buy rating in a report on Tuesday, June 18th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $28.71.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $25.16 on Monday. The stock has a market capitalization of $1.24 billion, a PE ratio of -8.62 and a beta of 2.22. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $26.31. The business’s 50-day moving average is $23.36 and its 200 day moving average is $19.35.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.67). The company had revenue of $12.59 million for the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that Nurix Therapeutics will post -2.95 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $51,468.30. Following the transaction, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at approximately $1,126,080.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Houte Hans Van sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $51,468.30. Following the transaction, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at approximately $1,126,080.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 3,408 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the transaction, the insider now directly owns 45,150 shares in the company, valued at $933,250.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,815 shares of company stock worth $1,424,931 in the last 90 days. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Redmile Group LLC lifted 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 acquiring an additional 1,226,497 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Nurix Therapeutics during the 2nd quarter valued at $26,778,000. Candriam S.C.A. lifted its holdings 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 during the period. Affinity Asset Advisors LLC lifted its holdings 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 during the period. Finally, Millennium Management LLC lifted its holdings 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 during the period.

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.