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

Nurix Therapeutics (NASDAQ:NRIX) had its target price decreased by Needham & Company LLC from $29.00 to $28.00 in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

NRIX has been the topic of several other reports. UBS Group started coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $35.00 price objective on the stock. BMO Capital Markets began coverage on shares of Nurix Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $35.00 price objective on the stock. BTIG Research started coverage on shares of Nurix Therapeutics in a report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 target price for the company. Stephens restated an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group began coverage on Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective for the company. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nurix Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $30.71.

Nurix Therapeutics Price Performance

Nurix Therapeutics stock opened at $19.71 on Wednesday. The firm has a 50 day simple moving average of $20.09 and a 200-day simple moving average of $22.39. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -6.82 and a beta of 2.14. Nurix Therapeutics has a 1-year low of $7.79 and a 1-year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data 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 return on equity of 63.38% and a negative net margin of 354.85%. Equities analysts expect that Nurix Therapeutics will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were 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 in the company, valued at $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Houte Hans Van sold 2,811 shares of the business’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 transaction of $55,798.35. Following the sale, the chief financial officer now owns 39,549 shares of the company’s stock, valued at $785,047.65. This represents a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Nurix Therapeutics by 85.2% during the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock worth $1,531,000 after purchasing an additional 31,352 shares during the last quarter. Barclays PLC grew its stake in Nurix Therapeutics by 77.9% during the 3rd quarter. Barclays PLC now owns 128,344 shares of the company’s stock worth $2,884,000 after buying an additional 56,190 shares during the last quarter. FMR LLC grew its stake in Nurix Therapeutics by 675.9% during the 3rd quarter. FMR LLC now owns 586,902 shares of the company’s stock worth $13,188,000 after buying an additional 511,256 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Nurix Therapeutics in the third quarter valued at approximately $530,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Nurix Therapeutics by 52.4% in the third quarter. Franklin Resources Inc. now owns 123,101 shares of the company’s stock valued at $2,766,000 after acquiring an additional 42,315 shares during the period.

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.