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

Nurix Therapeutics (NASDAQ:NRIX) had its target price reduced 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.

Several other research firms have also recently issued reports on NRIX. Stephens reiterated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Stifel Nicolaus increased 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. HC Wainwright boosted their price objective on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada dropped their target price on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Finally, 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 price target for the company. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nurix Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $30.71.

Nurix Therapeutics Stock Performance

NRIX stock opened at $19.71 on Wednesday. The stock has a market capitalization of $1.50 billion, a PE ratio of -6.82 and a beta of 2.14. The company has a fifty day moving average of $20.09 and a 200-day moving average of $22.39. Nurix Therapeutics has a one year low of $7.79 and a one year high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 63.38%. Equities analysts forecast that Nurix Therapeutics will post -2.73 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,690 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the sale, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Houte Hans Van sold 2,811 shares of Nurix Therapeutics 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 completion of the sale, the chief financial officer now directly owns 39,549 shares of the company’s stock, valued at $785,047.65. The trade was a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

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

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.