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

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $26.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 57.38% from the company’s current price.

Several other research analysts also recently weighed in on the company. Stifel Nicolaus set a $33.00 price target on Nurix Therapeutics in a report on Friday, October 10th. Mizuho upped their target price on Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. BTIG Research raised their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Wall Street Zen downgraded shares of Nurix Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 11th. Finally, HC Wainwright increased their price objective on shares of Nurix Therapeutics from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.50.

Nurix Therapeutics Trading Down 6.1%

NASDAQ:NRIX opened at $16.52 on Thursday. Nurix Therapeutics has a 12-month low of $8.18 and a 12-month high of $22.50. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -5.43 and a beta of 1.93. The company’s 50-day moving average is $18.50 and its two-hundred day moving average is $13.36.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Wednesday, January 28th. The company reported ($0.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. The business had revenue of $13.58 million during the quarter, compared to analyst estimates of $13.41 million. Nurix Therapeutics had a negative net margin of 314.90% and a negative return on equity of 57.51%. On average, equities research analysts forecast that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Gwenn Hansen sold 4,895 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $81,257.00. Following the transaction, the insider owned 83,672 shares in the company, valued at approximately $1,388,955.20. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 6,284 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $12.56, for a total transaction of $78,927.04. Following the sale, the chief financial officer owned 37,592 shares of the company’s stock, valued at approximately $472,155.52. This represents a 14.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,840 shares of company stock worth $220,957 over the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in Nurix Therapeutics by 8.2% in the 4th quarter. Arizona State Retirement System now owns 21,990 shares of the company’s stock valued at $417,000 after purchasing an additional 1,674 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nurix Therapeutics by 66.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,926 shares of the company’s stock worth $93,000 after buying an additional 1,970 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Nurix Therapeutics by 13.9% in the second 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 in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Nurix Therapeutics by 16.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 18,104 shares of the company’s stock valued at $206,000 after buying an additional 2,522 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Nurix Therapeutics by 23.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,518 shares of the company’s stock valued at $313,000 after buying an additional 3,118 shares during the period.

Nurix Therapeutics News Roundup

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on NRIX to $30 and maintained an outperform view, signaling significant upside versus the current stock level. RBC increases price target to $30
• Positive Sentiment: Needham & Company reaffirmed a “buy” rating with a $26 target and BTIG reiterated a buy with a $30 target — multiple brokerages maintaining bullish outlooks provide support for upside expectations. Needham and BTIG ratings
• Negative Sentiment: Insiders sold shares on Jan. 30: Gwenn Hansen sold 4,895 shares at ~$16.60 and CFO Houte Hans Van sold 3,661 shares at ~$16.60. Insider sales can be viewed negatively by the market because they reduce insider ownership and may signal cashing out. SEC filings: Hansen Form 4 and Van Form 4
• Negative Sentiment: TipRanks highlighted a newly disclosed material foreign‑exchange risk for Nurix due to unhedged currency exposure, which could increase earnings volatility and raise capital‑markets uncertainty. TipRanks: FX risk disclosed

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.