Nurix Therapeutics’ (NRIX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a report published on Tuesday,Benzinga reports. They currently have a $26.00 target price on the stock.

Other analysts have also recently issued reports about the company. Mizuho started coverage on Nurix Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $24.00 target price for the company. Baird R W raised shares of Nurix Therapeutics to a “strong-buy” rating in a report on Tuesday, August 26th. UBS Group reduced their target price on shares of Nurix Therapeutics from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, July 10th. Piper Sandler decreased their target price on shares of Nurix Therapeutics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Finally, Oppenheimer cut their price target on shares of Nurix Therapeutics from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.67.

Nurix Therapeutics Trading Up 0.6%

NRIX stock opened at $12.52 on Tuesday. The firm has a 50-day moving average of $9.96 and a two-hundred day moving average of $10.70. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $29.56. The company has a market cap of $962.54 million, a price-to-earnings ratio of -4.22 and a beta of 2.30.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Thursday, October 9th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). Nurix Therapeutics had a negative net margin of 292.50% and a negative return on equity of 53.57%. The company had revenue of $7.89 million during the quarter, compared to analysts’ expectations of $16.06 million. As a group, equities analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 4,087 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $12.80, for a total transaction of $52,313.60. Following the completion of the transaction, the insider directly owned 76,751 shares in the company, valued at $982,412.80. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 6,284 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $12.56, for a total value of $78,927.04. Following the completion of the sale, the chief financial officer owned 37,592 shares in the company, valued at $472,155.52. This represents a 14.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,501 shares of company stock valued at $171,305 in the last quarter. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in shares of Nurix Therapeutics by 8.7% during the first quarter. Arizona State Retirement System now owns 17,253 shares of the company’s stock worth $205,000 after purchasing an additional 1,385 shares in the last quarter. Jump Financial LLC increased its stake in Nurix Therapeutics by 1.9% during the 1st quarter. Jump Financial LLC now owns 76,060 shares of the company’s stock worth $904,000 after buying an additional 1,441 shares during the period. Corebridge Financial Inc. lifted its holdings in Nurix Therapeutics by 5.6% during the 1st quarter. Corebridge Financial Inc. now owns 36,849 shares of the company’s stock worth $438,000 after buying an additional 1,942 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Nurix Therapeutics by 13.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,404 shares of the company’s stock valued at $210,000 after buying an additional 2,248 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nurix Therapeutics by 13.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,829 shares of the company’s stock worth $224,000 after acquiring an additional 2,260 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.