Nurix Therapeutics’ (NRIX) Buy Rating Reaffirmed at Needham & Company LLC

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

A number of other analysts have also recently weighed in on NRIX. Wells Fargo & Company lowered their target price on shares of Nurix Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. BTIG Research reissued a “buy” rating and issued a $30.00 target price on shares of Nurix Therapeutics in a research note on Thursday, January 29th. Stifel Nicolaus upped their target price on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Nurix Therapeutics in a research note on Friday, April 10th. Finally, Morgan Stanley set a $36.00 price objective on shares of Nurix Therapeutics and gave the stock an “overweight” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.46.

Nurix Therapeutics Stock Down 0.4%

NASDAQ NRIX opened at $16.57 on Thursday. The stock has a market cap of $1.71 billion, a P/E ratio of -5.24 and a beta of 1.97. The company’s 50-day simple moving average is $15.72 and its 200 day simple moving average is $15.76. Nurix Therapeutics has a twelve month low of $8.19 and a twelve month high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). The business had revenue of $6.25 million during the quarter, compared to the consensus estimate of $14.25 million. Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. Research analysts anticipate that Nurix Therapeutics will post -2.92 earnings per share for the current year.

Insider Activity

In other news, insider Gwenn Hansen sold 4,895 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $81,257.00. Following the sale, the insider directly owned 83,672 shares of the company’s stock, valued at $1,388,955.20. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $60,772.60. Following the sale, the chief financial officer directly owned 45,427 shares in the company, valued at $754,088.20. This trade represents a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently modified their holdings of NRIX. General Atlantic L.P. bought a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $92,899,000. Morgan Stanley grew its stake in shares of Nurix Therapeutics by 115.9% during the fourth quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after purchasing an additional 2,620,323 shares during the last quarter. Rubric Capital Management LP bought a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $46,930,000. Braidwell LP bought a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $41,428,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Nurix Therapeutics by 195.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,248,361 shares of the company’s stock valued at $61,622,000 after purchasing an additional 2,149,268 shares during the last quarter.

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.