Nurix Therapeutics (NASDAQ:NRIX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report report published on Tuesday,Benzinga reports. Needham & Company LLC currently has a $27.00 target price on the stock.

Several other equities analysts have also commented on NRIX. JPMorgan Chase & Co. dropped their price target on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Leerink Partners began coverage on shares of Nurix Therapeutics in a research note on Monday, March 17th. They set a “market perform” rating and a $16.00 price target on the stock. Leerink Partnrs raised Nurix Therapeutics to a “hold” rating in a report on Monday, March 17th. Morgan Stanley upped their target price on Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on Nurix Therapeutics from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.44.

Nurix Therapeutics Trading Down 0.3 %

Shares of NRIX opened at $11.44 on Tuesday. The firm’s fifty day simple moving average is $12.35 and its 200-day simple moving average is $18.23. The firm has a market capitalization of $872.14 million, a price-to-earnings ratio of -3.96 and a beta of 2.23. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The company had revenue of $18.45 million during the quarter, compared to the consensus estimate of $12.78 million. During the same period in the previous year, the business earned ($0.76) EPS. On average, analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 2,811 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the sale, the chief financial officer now directly owns 39,549 shares in the company, valued at approximately $785,047.65. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,326 shares of company stock worth $213,449. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its stake in shares of Nurix Therapeutics by 144.7% during the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock worth $27,000 after buying an additional 842 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in Nurix Therapeutics during the 4th quarter valued at about $28,000. Aquatic Capital Management LLC acquired a new position in Nurix Therapeutics during the fourth quarter worth about $87,000. Exchange Traded Concepts LLC lifted its holdings in shares of Nurix Therapeutics by 38.9% in the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company’s stock valued at $109,000 after purchasing an additional 2,562 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its position in shares of Nurix Therapeutics by 13.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after purchasing an additional 877 shares during the last quarter.

Nurix Therapeutics Company Profile

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.