Needham & Company LLC Reaffirms “Buy” Rating for Nurix Therapeutics (NASDAQ:NRIX)

Needham & Company LLC reiterated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $29.00 price objective on the stock.

NRIX has been the subject of a number of other research reports. HC Wainwright boosted their target price on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective for the company. Royal Bank of Canada decreased their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Stephens restated an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday, October 14th. Finally, BMO Capital Markets began coverage on Nurix Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $30.06.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $22.06 on Tuesday. The company’s fifty day moving average price is $23.72 and its 200-day moving average price is $22.05. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -7.68 and a beta of 2.11. Nurix Therapeutics has a one year low of $7.65 and a one year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million for the quarter, compared to analysts’ expectations of $13.85 million. As a group, equities research analysts expect that Nurix Therapeutics will post -2.81 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In other news, insider Christine Ring sold 5,760 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total value of $128,044.80. Following the completion of the transaction, the insider now owns 24,592 shares of the company’s stock, valued at approximately $546,680.16. This represents a 18.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 3,546 shares of Nurix Therapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $24.28, for a total value of $86,096.88. Following the sale, the chief financial officer now owns 33,724 shares in the company, valued at $818,818.72. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,401 shares of company stock valued at $437,453. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of 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 buying an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 valued at $54,000 after purchasing an additional 559 shares during the last quarter. Quarry LP boosted its position in shares of Nurix Therapeutics by 3,746.2% in the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after purchasing an additional 2,435 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of 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 worth $101,000 after buying an additional 4,119 shares during the last quarter. Finally, Quest Partners LLC increased its position in Nurix Therapeutics by 21.3% during the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after buying an additional 1,312 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.