Needham & Company LLC Has Lowered Expectations for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Nurix Therapeutics (NASDAQ:NRIX) had its target price decreased by analysts at Needham & Company LLC from $29.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 39.93% from the company’s current price.

Several other analysts have also recently commented on the stock. HC Wainwright boosted their price target on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Stephens reiterated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Royal Bank of Canada cut their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Stifel Nicolaus upped their price objective on Nurix Therapeutics from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, 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 target price for the company. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.71.

Nurix Therapeutics Trading Up 1.8 %

Shares of NRIX opened at $20.01 on Wednesday. The business’s 50 day moving average is $20.14 and its 200 day moving average is $22.40. Nurix Therapeutics has a 12-month low of $7.79 and a 12-month high of $29.56. The company has a market capitalization of $1.42 billion, a PE ratio of -6.88 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data 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 net margin of 313.65% and a negative return on equity of 63.39%. Equities research analysts predict that Nurix Therapeutics will post -2.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 2,811 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the transaction, the chief financial officer now directly owns 39,549 shares in the company, valued at approximately $785,047.65. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction dated 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 of the company’s stock, valued at $1,110,349.45. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. 7.20% of the stock is owned by insiders.

Institutional Trading of Nurix Therapeutics

A number of large investors have recently modified their holdings of NRIX. Rhumbline Advisers increased its holdings in Nurix Therapeutics by 13.5% during the 4th quarter. Rhumbline Advisers now owns 103,233 shares of the company’s stock worth $1,945,000 after purchasing an additional 12,315 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Nurix Therapeutics by 42.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company’s stock valued at $14,869,000 after buying an additional 235,971 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Nurix Therapeutics by 21.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,020 shares of the company’s stock valued at $283,000 after buying an additional 2,632 shares during the period. SG Americas Securities LLC raised its holdings in shares of Nurix Therapeutics by 31.1% in the fourth quarter. SG Americas Securities LLC now owns 30,086 shares of the company’s stock valued at $567,000 after acquiring an additional 7,141 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Nurix Therapeutics by 85.2% in the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock worth $1,531,000 after acquiring an additional 31,352 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.