Needham & Company LLC Cuts Nurix Therapeutics (NASDAQ:NRIX) Price Target to $28.00

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its price objective lowered by investment analysts at Needham & Company LLC from $29.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 42.06% from the stock's previous close.

Several other research firms also recently weighed in on NRIX. Stifel Nicolaus increased their target price on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank of Canada lowered their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, October 14th. Jefferies Financial Group assumed coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They set a "buy" rating and a $41.00 price target on the stock. BTIG Research assumed coverage on Nurix Therapeutics in a report on Tuesday, December 10th. They set a "buy" rating and a $35.00 price objective for the company. Finally, UBS Group initiated coverage on Nurix Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Nurix Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $30.71.

Nurix Therapeutics Trading Down 1.5 %

Shares of NASDAQ NRIX traded down $0.30 during midday trading on Wednesday, reaching $19.71. 775,381 shares of the stock were exchanged, compared to its average volume of 594,254. The stock has a 50 day moving average price of $20.05 and a 200-day moving average price of $22.37. The company has a market capitalization of $1.50 billion, a P/E ratio of -6.82 and a beta of 2.14. Nurix Therapeutics has a 52-week low of $7.79 and a 52-week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 63.38%. On average, analysts forecast that Nurix Therapeutics will post -2.73 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, 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 transaction, the insider now directly owns 55,937 shares of the company's stock, valued at $1,110,349.45. This represents a 6.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the company's stock in a transaction 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 $785,047.65. This represents a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.20% of the company's stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NRIX. Amalgamated Bank grew its position in shares of Nurix Therapeutics by 30.6% in the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company's stock worth $49,000 after acquiring an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company's stock worth $54,000 after purchasing an additional 559 shares during the period. Quarry LP boosted its holdings in Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company's stock worth $56,000 after purchasing an additional 2,435 shares during the period. International Assets Investment Management LLC increased its stake in Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company's stock valued at $101,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Nurix Therapeutics by 21.3% during the third quarter. Quest Partners LLC now owns 7,458 shares of the company's stock worth $168,000 after purchasing an additional 1,312 shares during the period.

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.