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

Needham & Company LLC restated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $26.00 price objective on the stock.

NRIX has been the subject of several other research reports. HC Wainwright raised their price target on shares of Nurix Therapeutics from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus set a $33.00 target price on Nurix Therapeutics in a report on Friday, October 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, October 22nd. Oppenheimer dropped their price objective on Nurix Therapeutics from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, October 10th. Finally, BTIG Research raised their target price on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Nurix Therapeutics Stock Down 6.1%

NASDAQ:NRIX opened at $16.52 on Thursday. The stock has a market cap of $1.27 billion, a P/E ratio of -5.43 and a beta of 1.93. The business’s 50-day moving average price is $18.50 and its two-hundred day moving average price is $13.37. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $22.50.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Wednesday, January 28th. The company reported ($0.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. The business had revenue of $13.58 million during the quarter, compared to analyst estimates of $13.41 million. Nurix Therapeutics had a negative net margin of 314.90% and a negative return on equity of 57.51%. On average, equities research analysts expect that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,284 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $12.56, for a total value of $78,927.04. Following the completion of the transaction, the chief financial officer owned 37,592 shares of the company’s stock, valued at approximately $472,155.52. This represents a 14.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gwenn Hansen sold 4,895 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $81,257.00. Following the completion of the sale, the insider owned 83,672 shares of the company’s stock, valued at $1,388,955.20. The trade was a 5.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,840 shares of company stock valued at $220,957. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds have recently made changes to their positions in NRIX. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Nurix Therapeutics by 84.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,391,638 shares of the company’s stock valued at $15,851,000 after purchasing an additional 635,668 shares during the last quarter. Geode Capital Management LLC grew its holdings in Nurix Therapeutics by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,881,960 shares of the company’s stock valued at $21,437,000 after buying an additional 157,592 shares in the last quarter. Affinity Asset Advisors LLC increased its stake in Nurix Therapeutics by 19.4% in the 2nd quarter. Affinity Asset Advisors LLC now owns 967,620 shares of the company’s stock worth $11,021,000 after acquiring an additional 156,951 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Nurix Therapeutics by 38.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 15,400 shares of the company’s stock worth $175,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Bollard Group LLC bought a new position in shares of Nurix Therapeutics during the 2nd quarter valued at approximately $1,398,000.

Key Headlines Impacting Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on NRIX to $30 and maintained an outperform view, signaling significant upside versus the current stock level. RBC increases price target to $30
• Positive Sentiment: Needham & Company reaffirmed a “buy” rating with a $26 target and BTIG reiterated a buy with a $30 target — multiple brokerages maintaining bullish outlooks provide support for upside expectations. Needham and BTIG ratings
• Negative Sentiment: Insiders sold shares on Jan. 30: Gwenn Hansen sold 4,895 shares at ~$16.60 and CFO Houte Hans Van sold 3,661 shares at ~$16.60. Insider sales can be viewed negatively by the market because they reduce insider ownership and may signal cashing out. SEC filings: Hansen Form 4 and Van Form 4
• Negative Sentiment: TipRanks highlighted a newly disclosed material foreign‑exchange risk for Nurix due to unhedged currency exposure, which could increase earnings volatility and raise capital‑markets uncertainty. TipRanks: FX risk disclosed

About Nurix Therapeutics

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.