Nurix Therapeutics (NASDAQ:NRIX) Given New $38.00 Price Target at Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX – Get Rating) had its price target decreased by Needham & Company LLC from $48.00 to $38.00 in a research report report published on Friday morning, Stock Target Advisor reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research analysts have also recently commented on NRIX. Robert W. Baird decreased their target price on shares of Nurix Therapeutics from $49.00 to $41.00 in a report on Friday, January 28th. Zacks Investment Research raised shares of Nurix Therapeutics from a sell rating to a hold rating in a research report on Saturday, April 9th. Wells Fargo & Company reduced their price target on shares of Nurix Therapeutics from $28.00 to $25.00 and set an equal weight rating for the company in a research report on Monday, April 11th. Royal Bank of Canada reduced their price target on shares of Nurix Therapeutics from $42.00 to $39.00 and set an outperform rating for the company in a research report on Monday, April 18th. Finally, HC Wainwright reduced their price target on shares of Nurix Therapeutics from $62.00 to $60.00 and set a buy rating for the company in a research report on Thursday, April 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Buy and an average price target of $44.50.

Shares of NRIX opened at $9.02 on Friday. Nurix Therapeutics has a one year low of $7.52 and a one year high of $37.42. The company has a 50-day moving average of $12.12 and a two-hundred day moving average of $19.39. The stock has a market cap of $405.45 million, a price-to-earnings ratio of -2.95 and a beta of 2.59.

Nurix Therapeutics (NASDAQ:NRIX – Get Rating) last announced its earnings results on Thursday, April 7th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.06). Nurix Therapeutics had a negative return on equity of 38.11% and a negative net margin of 394.21%. The firm had revenue of $9.62 million during the quarter, compared to analyst estimates of $8.77 million. On average, sell-side analysts forecast that Nurix Therapeutics will post -3.92 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of NRIX. Invesco Ltd. bought a new position in Nurix Therapeutics during the second quarter valued at approximately $358,000. Morgan Stanley raised its position in Nurix Therapeutics by 371.1% during the second quarter. Morgan Stanley now owns 443,038 shares of the company’s stock valued at $11,753,000 after acquiring an additional 348,995 shares in the last quarter. BlackRock Inc. raised its position in Nurix Therapeutics by 19.0% during the third quarter. BlackRock Inc. now owns 2,483,573 shares of the company’s stock valued at $74,408,000 after acquiring an additional 396,957 shares in the last quarter. Alliancebernstein L.P. raised its position in Nurix Therapeutics by 182.1% during the third quarter. Alliancebernstein L.P. now owns 92,524 shares of the company’s stock valued at $2,772,000 after acquiring an additional 59,724 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Nurix Therapeutics during the third quarter valued at approximately $258,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

Nurix Therapeutics Company Profile (Get Rating)

Nurix Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapies for the treatment of cancer and immune disorders. The company develops NX-2127, an orally available 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 available Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.

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