Nurix Therapeutics' (NRIX) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX - Free Report) in a research note released on Wednesday, Benzinga reports. They currently have a $29.00 price target on the stock.

Several other equities research analysts have also weighed in on NRIX. Royal Bank of Canada decreased their price objective on Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, October 14th. UBS Group initiated coverage on Nurix Therapeutics in a research note on Thursday, October 24th. They set a "buy" rating and a $35.00 price objective for the company. Truist Financial initiated coverage on shares of Nurix Therapeutics in a research report on Wednesday, July 31st. They issued a "buy" rating and a $36.00 price objective on the stock. Stephens reiterated an "overweight" rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a report on Monday, October 14th. Finally, HC Wainwright upped their target price on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.40.

Nurix Therapeutics Stock Performance

NRIX stock traded up $1.57 during mid-day trading on Wednesday, hitting $27.00. The company had a trading volume of 4,462,276 shares, compared to its average volume of 888,614. Nurix Therapeutics has a 12 month low of $4.96 and a 12 month high of $27.60. The stock's fifty day moving average price is $24.22 and its two-hundred day moving average price is $20.50.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting analysts' consensus estimates of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The company had revenue of $12.59 million for the quarter, compared to analysts' expectations of $13.85 million. As a group, equities analysts forecast that Nurix Therapeutics will post -2.84 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 9,870 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.01, for a total transaction of $246,848.70. Following the sale, the insider now owns 24,592 shares of the company's stock, valued at approximately $615,045.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Houte Hans Van sold 3,546 shares of Nurix Therapeutics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $24.28, for a total transaction of $86,096.88. Following the completion of the sale, the chief financial officer now owns 33,724 shares of the company's stock, valued at $818,818.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christine Ring sold 9,870 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.01, for a total transaction of $246,848.70. Following the transaction, the insider now directly owns 24,592 shares of the company's stock, valued at approximately $615,045.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,321 shares of company stock worth $1,414,409 in the last quarter. 9.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank raised its position in Nurix Therapeutics by 30.6% during the third quarter. Amalgamated Bank now owns 2,182 shares of the company's stock worth $49,000 after acquiring an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nurix Therapeutics by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company's stock valued at $54,000 after acquiring an additional 559 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company's stock valued at $95,000 after purchasing an additional 3,424 shares during the period. International Assets Investment Management LLC increased its position 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 worth $101,000 after purchasing an additional 4,119 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Nurix Therapeutics in the 1st quarter valued at approximately $123,000.

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.