Nurix Therapeutics (NASDAQ:NRIX) Given Buy Rating at Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $34.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 53.64% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. UBS Group boosted their price objective on shares of Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. HC Wainwright boosted their price objective on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Robert W. Baird boosted their price objective on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Finally, Morgan Stanley boosted their price objective on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.64.

Nurix Therapeutics Trading Down 0.1%

NRIX stock opened at $22.13 on Tuesday. The firm’s 50-day moving average price is $25.17 and its two-hundred day moving average price is $21.00. Nurix Therapeutics has a 12-month low of $9.14 and a 12-month high of $28.23. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -6.41 and a beta of 1.82.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Monday, October 12th. The company reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $5.33. Nurix Therapeutics had a net margin of 42.01% and a return on equity of 62.20%. The firm had revenue of $673.06 million for the quarter, compared to analysts’ expectations of $24.35 million. Equities analysts predict that Nurix Therapeutics will post -2.69 EPS for the current year.

Insider Activity

In related news, insider Gwenn Hansen sold 4,356 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $25.00, for a total transaction of $108,900.00. Following the transaction, the insider owned 117,227 shares in the company, valued at $2,930,675. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the transaction, the chief financial officer owned 40,166 shares in the company, valued at $978,443.76. This represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,372 shares of company stock worth $518,463 in the last quarter. 6.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Nurix Therapeutics during the second quarter valued at about $212,769,000. General Atlantic L.P. purchased a new position in shares of Nurix Therapeutics during the fourth quarter valued at about $92,899,000. Baker BROS. Advisors LP increased its position in shares of Nurix Therapeutics by 20.0% during the fourth quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock valued at $88,373,000 after buying an additional 776,431 shares during the period. Perceptive Advisors LLC grew its holdings in Nurix Therapeutics by 4.4% in the first quarter. Perceptive Advisors LLC now owns 3,710,877 shares of the company’s stock worth $57,519,000 after purchasing an additional 155,000 shares during the period. Finally, Trails Edge Capital Partners LP purchased a new stake in Nurix Therapeutics in the second quarter worth about $38,166,318.

Key Nurix Therapeutics News

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

• Positive Sentiment: Nurix initiated the registrational Phase 3 DAYBreak CLL-306 trial, dosing the first patient in a study comparing bexobrutideg with pirtobrutinib (Jaypirca) in relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma. Positive Phase 1/2 results could support a potential accelerated approval in later-line disease. Nurix Therapeutics Reports Third Quarter 2026 Financial Results and Provides Corporate Update
• Positive Sentiment: Analysts remain bullish: Robert W. Baird raised its price target to $36 and maintained an outperform rating, while Needham reaffirmed a buy rating with a $34 target. Truist kept a buy rating despite trimming its target to $33. These targets imply substantial upside from recent trading levels.
• Positive Sentiment: Nurix’s third-quarter results significantly exceeded expectations, with earnings of $4.73 per share versus consensus estimates for a loss of approximately $0.56–$0.60 and revenue of $673.1 million versus an estimate of $24.4 million. The results provide financial support for continued clinical development. Nurix Q3 Earnings and Revenues Surpass Estimates
• Neutral Sentiment: RBC Capital Markets argues that Nurix’s enterprise value remains underappreciated, supporting the valuation case, although the thesis depends heavily on successful clinical execution and future commercialization.
• Negative Sentiment: Nurix faces heightened risks from its reliance on Roche, including cost burdens, reduced control over development and commercialization decisions, and uncertain returns from bexobrutideg. These concerns may be limiting the stock’s reaction to strong earnings and favorable clinical updates. Nurix’s Reliance on Roche and Bexobrutideg Risks

About Nurix Therapeutics

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.