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

Needham & Company LLC reiterated their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $34.00 target price on the stock.

Several other equities research analysts also recently commented on NRIX. Royal Bank Of Canada upped their price objective on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 10th. HC Wainwright increased their target price on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Friday, July 17th. Mizuho lifted their target price on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Morgan Stanley boosted their price target on shares of Nurix Therapeutics from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.64.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $24.95 on Tuesday. The stock has a market capitalization of $2.73 billion, a PE ratio of 10.80 and a beta of 1.82. Nurix Therapeutics has a one year low of $9.71 and a one year high of $28.23. The business’s fifty day moving average price is $25.13 and its 200-day moving average price is $21.13.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Monday, October 12th. The company reported $4.73 earnings per share for the quarter, topping the consensus estimate of ($0.60) by $5.33. Nurix Therapeutics had a return on equity of 49.34% and a net margin of 42.01%. The company had revenue of $673.06 million during the quarter, compared to the consensus estimate of $24.35 million. As a group, equities analysts expect that Nurix Therapeutics will post 0.85 EPS for the current fiscal year.

Insider Activity

In other news, insider Gwenn Hansen sold 1,452 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $25.00, for a total value of $36,300.00. Following the completion of the transaction, the insider directly owned 117,227 shares in the company, valued at approximately $2,930,675. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the completion of the transaction, the chief financial officer owned 40,166 shares of the company’s stock, valued at $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,407 shares of company stock worth $1,083,206 over the last ninety days. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Nurix Therapeutics by 95.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,270 shares of the company’s stock worth $30,000 after purchasing an additional 620 shares in the last quarter. Nykredit A S bought a new position in Nurix Therapeutics in the 2nd quarter valued at $32,000. Integrated Wealth Concepts LLC bought a new position in Nurix Therapeutics in the 2nd quarter valued at $33,000. KBC Group NV bought a new position in Nurix Therapeutics in the 1st quarter valued at $34,000. Finally, Avalon Trust Co purchased a new position in shares of Nurix Therapeutics during the 2nd quarter valued at $64,000.

Nurix Therapeutics News Roundup

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

• Positive Sentiment: Nurix initiated the Phase 3 DAYBreak CLL-306 trial of bexobrutideg in relapsed or refractory chronic lymphocytic leukemia and small lymphocytic lymphoma. An analyst maintained a “Strong Buy” rating, citing promising earlier-stage data, potential accelerated approval and multiple development opportunities. Bexobrutideg clinical analysis
• Positive Sentiment: Analyst sentiment remains broadly bullish. Baird raised its price target to $36 and maintained an “Outperform” rating, while Needham reiterated “Buy” with a $34 target. The consensus target is approximately $34.64, above recent trading levels. Nurix analyst ratings
• Neutral Sentiment: Nurix’s quarterly results significantly exceeded estimates, with earnings of $4.73 per share versus a projected loss of $0.60 and revenue of $673.06 million versus a $24.35 million consensus estimate. However, the earnings reaction was tempered by higher operating expenses as the company continues investing in its pipeline. Nurix quarterly earnings
• Negative Sentiment: Truist reduced its price target for Nurix while retaining a “Buy” rating, signaling more cautious near-term expectations despite confidence in the company’s longer-term prospects. Truist price target update
• Negative Sentiment: Director Julia Gregory sold 22,583 shares for about $528,000, reducing her direct ownership by 67.75%. Separately, insider Gwenn Hansen sold 1,452 shares for $36,300 under a pre-arranged Rule 10b5-1 plan. While planned sales may reflect diversification or personal financial needs, the transactions can weigh on investor sentiment. Nurix insider sale filing

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the levels and activity of disease-causing proteins. Headquartered in San Francisco, California, the company uses its DELigase platform to discover therapies based on targeted protein degradation and immune-system modulation.

Nurix’s pipeline includes oral targeted protein degraders designed to eliminate specific proteins involved in cancer and immune-cell function. Its lead programs have included NX-5948, a Bruton’s tyrosine kinase degrader being evaluated for certain B-cell malignancies, and NX-2127, an investigational degrader designed to target BTK and other proteins relevant to cancer biology.