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

Nurix Therapeutics (NASDAQ:NRIX) had its price objective cut 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 43.15% from the stock’s previous close.

Several other brokerages also recently issued reports on NRIX. Stifel Nicolaus boosted their price target on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada decreased their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Jefferies Financial Group started coverage on Nurix Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $41.00 price target on the stock. HC Wainwright increased their price objective on Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, BMO Capital Markets began coverage on Nurix Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Nurix Therapeutics Stock Down 1.3 %

NRIX opened at $19.56 on Wednesday. The company’s 50-day moving average price is $20.20 and its 200 day moving average price is $22.42. Nurix Therapeutics has a fifty-two week low of $7.65 and a fifty-two week high of $29.56. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -6.72 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. Research analysts anticipate that Nurix Therapeutics will post -2.81 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 3,546 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $24.28, for a total value of $86,096.88. Following the sale, the chief financial officer now directly owns 33,724 shares in the company, valued at $818,818.72. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in NRIX. Amalgamated Bank lifted its position in shares of Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after acquiring an additional 511 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Nurix Therapeutics by 31.6% during 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 lifted its holdings in shares of Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after purchasing an additional 2,435 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Nurix Therapeutics by 1,098.4% in the 3rd 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 period. Finally, Quest Partners LLC increased its stake in Nurix Therapeutics by 21.3% in the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock worth $168,000 after purchasing an additional 1,312 shares in the last quarter.

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.