Nurix Therapeutics’ (NRIX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $26.00 target price on the stock.

NRIX has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Tuesday. Piper Sandler raised their target price on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Morgan Stanley set a $36.00 price target on shares of Nurix Therapeutics and gave the stock an “overweight” rating in a research report on Thursday, January 8th. BTIG Research reaffirmed a “buy” rating and set a $30.00 price target on shares of Nurix Therapeutics in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada increased their price objective on shares of Nurix Therapeutics from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.46.

Nurix Therapeutics Trading Up 0.7%

Shares of NRIX stock opened at $16.68 on Thursday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -5.28 and a beta of 1.97. Nurix Therapeutics has a 12-month low of $8.19 and a 12-month high of $22.50. The stock’s 50-day moving average price is $15.75 and its 200-day moving average price is $15.85.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). The firm had revenue of $6.25 million for 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%. As a group, research analysts predict that Nurix Therapeutics will post -2.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Houte Hans Van sold 3,661 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $60,772.60. Following the transaction, the chief financial officer owned 45,427 shares of the company’s stock, valued at approximately $754,088.20. The trade was a 7.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gwenn Hansen sold 4,895 shares of the stock in a transaction 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 sale, the insider owned 83,672 shares in the company, valued at $1,388,955.20. The trade was a 5.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nurix Therapeutics by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock worth $593,000 after acquiring an additional 5,286 shares during the last quarter. Millennium Management LLC grew its holdings in Nurix Therapeutics by 106.2% during the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock valued at $10,388,000 after purchasing an additional 450,262 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Nurix Therapeutics by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock valued at $6,029,000 after purchasing an additional 44,002 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Nurix Therapeutics by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock worth $1,895,000 after purchasing an additional 12,817 shares during the period. Finally, Creative Planning purchased a new stake in Nurix Therapeutics in the 2nd quarter worth about $187,000.

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.