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

Needham & Company LLC reiterated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIXFree Report) in a research note released on Tuesday morning, Benzinga reports. They currently have a $31.00 price target on the stock.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Nurix Therapeutics from $23.00 to $20.00 and set an overweight rating for the company in a report on Friday, February 16th. Morgan Stanley boosted their price target on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the stock an equal weight rating in a research report on Monday, February 26th. Royal Bank of Canada dropped their price target on shares of Nurix Therapeutics from $24.00 to $22.00 and set an outperform rating on the stock in a research report on Friday, February 16th. Finally, HC Wainwright dropped their price target on shares of Nurix Therapeutics from $35.00 to $19.00 and set a buy rating on the stock in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Nurix Therapeutics has a consensus rating of Moderate Buy and a consensus target price of $20.40.

Read Our Latest Report on Nurix Therapeutics

Nurix Therapeutics Stock Performance

Shares of NRIX opened at $14.86 on Tuesday. Nurix Therapeutics has a 1 year low of $4.22 and a 1 year high of $16.11. The company has a market cap of $730.37 million, a price-to-earnings ratio of -5.61 and a beta of 2.06. The firm has a fifty day moving average of $11.46 and a 200-day moving average of $8.90.

Nurix Therapeutics (NASDAQ:NRIXGet Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.26). The company had revenue of $15.16 million during the quarter, compared to analyst estimates of $30.66 million. Nurix Therapeutics had a negative return on equity of 59.47% and a negative net margin of 186.98%. Analysts predict that Nurix Therapeutics will post -3.26 EPS for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,812 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.02, for a total transaction of $68,256.24. Following the sale, the chief financial officer now owns 68,333 shares in the company, valued at approximately $684,696.66. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 10,817 shares of company stock worth $100,256. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NRIX. Wellington Management Group LLP grew its stake in Nurix Therapeutics by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 205,324 shares of the company’s stock valued at $2,119,000 after acquiring an additional 60,271 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Nurix Therapeutics by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,389,966 shares of the company’s stock valued at $24,665,000 after acquiring an additional 11,988 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Nurix Therapeutics by 35.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 49,018 shares of the company’s stock valued at $506,000 after acquiring an additional 12,880 shares in the last quarter. Virtus ETF Advisers LLC grew its stake in Nurix Therapeutics by 14.9% during the 4th quarter. Virtus ETF Advisers LLC now owns 10,356 shares of the company’s stock valued at $107,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Barclays PLC grew its stake in Nurix Therapeutics by 1.9% during the 4th quarter. Barclays PLC now owns 68,739 shares of the company’s stock valued at $709,000 after acquiring an additional 1,272 shares in the last quarter.

About Nurix Therapeutics

(Get Free Report)

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.

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