Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $27.00 at Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX - Free Report) had its price objective lowered by Needham & Company LLC from $28.00 to $27.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

NRIX has been the topic of several other reports. BTIG Research initiated coverage on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. They set a "buy" rating and a $35.00 target price on the stock. Morgan Stanley increased their price objective on Nurix Therapeutics from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Stephens reiterated an "overweight" rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus raised their price objective on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.44.

Nurix Therapeutics Stock Up 2.4 %

Shares of NASDAQ:NRIX traded up $0.22 during trading on Wednesday, hitting $9.36. 305,689 shares of the company were exchanged, compared to its average volume of 895,407. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56. The company has a market capitalization of $713.57 million, a P/E ratio of -3.24 and a beta of 2.23. The business's 50 day moving average is $14.03 and its 200-day moving average is $19.16.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its 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 business had revenue of $18.45 million during the quarter, compared to analysts' expectations of $12.78 million. During the same quarter in the prior year, the firm earned ($0.76) EPS. As a group, sell-side analysts anticipate that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 5,825 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the transaction, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at $488,660.76. This represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction dated 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 of the company's stock, valued at $1,110,349.45. The trade was a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,326 shares of company stock valued at $213,449 in the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after purchasing an additional 842 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Nurix Therapeutics during the 4th quarter worth $28,000. Aquatic Capital Management LLC bought a new stake in shares of Nurix Therapeutics during the 4th quarter valued at $87,000. Summit Investment Advisors Inc. increased its stake in shares of Nurix Therapeutics by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock worth $138,000 after purchasing an additional 877 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Nurix Therapeutics in the 4th quarter worth $164,000.

About Nurix Therapeutics

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.