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

by · The Cerbat Gem

Needham & Company LLC reissued their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX – Free Report) in a research note published on Tuesday,Benzinga reports. They currently have a $34.00 price objective on the stock.

A number of other research analysts also recently weighed in on the company. BTIG Research reissued a “buy” rating and issued a $32.00 price objective on shares of Nurix Therapeutics in a research note on Friday, July 10th. UBS Group upped their target price on Nurix Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. HC Wainwright increased their price target on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 10th. Jefferies Financial Group lifted their price target on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of Nurix Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nurix Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Check Out Our Latest Stock Report on NRIX

Nurix Therapeutics Trading Up 0.4%

Shares of NASDAQ:NRIX opened at $25.22 on Tuesday. The stock has a market capitalization of $2.62 billion, a PE ratio of -7.31 and a beta of 1.79. Nurix Therapeutics has a 1 year low of $8.19 and a 1 year high of $25.49. The firm has a fifty day moving average price of $21.11 and a 200 day moving average price of $18.00.

Nurix Therapeutics (NASDAQ:NRIX – Get Free Report) last posted its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The company had revenue of $9.04 million for the quarter, compared to the consensus estimate of $15.29 million. On average, sell-side analysts forecast that Nurix Therapeutics will post -2.84 earnings per share for the current fiscal year.

Insider Activity

In other Nurix Therapeutics news, CFO Houte Hans Van sold 4,761 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the transaction, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at $978,443.76. The trade was a 10.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the transaction, the insider directly owned 115,005 shares in the company, valued at approximately $2,300,100. This represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,314 shares of company stock valued at $589,361 in the last three months. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NRIX. Larson Financial Group LLC raised its position in Nurix Therapeutics by 339.0% in the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after purchasing an additional 1,190 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Nurix Therapeutics by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company’s stock worth $1,290,000 after buying an additional 1,476 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $31,000. Royal Bank of Canada lifted its position in shares of Nurix Therapeutics by 17.6% during the 4th quarter. Royal Bank of Canada now owns 10,842 shares of the company’s stock worth $206,000 after buying an additional 1,623 shares during the period. Finally, Arizona State Retirement System grew its position in Nurix Therapeutics by 8.2% in the fourth quarter. Arizona State Retirement System now owns 21,990 shares of the company’s stock valued at $417,000 after acquiring an additional 1,674 shares during the period.

Nurix Therapeutics Company Profile

(Get Free Report)

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.

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