Needham Reiterates Buy Rating on Nurix Therapeutics, Inc.
Needham reaffirms its buy rating on Nurix Therapeutics with a $34 price target, a 95.07% upside from the current price.
Key Points
- Needham reiterated its buy rating for Nurix Therapeutics, Inc. (NRIX) with a price target of $34 on June 15, 2026.
- Needham's $34 price target implies 95.07% upside from Nurix Therapeutics, Inc.'s ($NRIX) current $17.43 share price.
- Nurix shares are trading near $16.95 with a market cap of $1.75 billion and a beta of 1.869.
- Insider Christine Ring sold 8,148 shares on June 2, 2026, while analysts maintain a strong buy consensus.
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Needham has reiterated its buy rating on Nurix Therapeutics, Inc. (NasdaqGM: NRIX), setting a price target of $34. This reaffirmation came on June 15, 2026, with the stock currently trading around $16.95.
Analysts Set New Price Targets
On June 15, 2026, Needham reiterated its buy rating on Nurix Therapeutics with a $34 price target. Other analysts have also maintained buy ratings, with Truist Securities and BTIG both setting a target of $32 on June 9, 2026. Jefferies maintained a buy rating with a higher target of $45 on June 8, 2026. The consensus remains strong buy with a mean target price of $31.
Other Institutional Activity in Nurix Therapeutics
BlackRock, Inc. increased its holdings by 50,448 shares, reaching a total of 8,925,642 shares valued at approximately $138.3 million. Vestal Point Capital, LP significantly boosted its position by 1,810,000 shares, bringing its total to 6,500,000 shares worth about $100.8 million. Meanwhile, Redmile Group, LLC reduced its stake by 361,100 shares, holding 7,732,808 shares valued at $119.9 million.
Nurix Therapeutics, Inc. Stock Down 33.5%
Shares of Nurix Therapeutics, Inc. are trading near $16.95. The company has a market capitalization of roughly $1.75 billion and a beta of 1.869, indicating higher volatility compared to the market. The stock's 52-week range is between $8.20 and $22.50, with a 50-day moving average of $16.43 and a 200-day moving average of $14.92. Nurix has a current ratio of 6.01 and a quick ratio of 5.89, reflecting strong liquidity.
Insider Buying and Selling at Nurix Therapeutics, Inc.
On June 2, 2026, Christine Ring, Chief Legal Officer, sold 8,148 shares at an average price of $16.60 under a planned transaction. Earlier the same day, she bought 3,422 shares at a price of $1.86. Additionally, insiders Roy Baynes, Paul Silva, and Edward Saltzman each acquired 31,250 shares on May 15, 2026.
About Nurix Therapeutics, Inc.
Nurix Therapeutics, Inc. is a biotechnology company based in Brisbane, California. It focuses on developing small molecule and antibody therapies for cancer and inflammatory diseases. The company is currently advancing several candidates through clinical trials, including NX-5948 and NX-2127 for B-cell malignancies and NX-1607 for immuno-oncology indications. Nurix collaborates with major pharmaceutical companies like Gilead Sciences and Pfizer to co-develop and commercialize these therapies under the leadership of CEO Dr. Arthur T. Sands.
Bottom Line
Needham's reaffirmation of its buy rating with a $34 price target highlights continued confidence in Nurix Therapeutics. Investors should note that these analyst ratings are based on forward-looking estimates and market conditions. Nurix's stock performance and strategic developments are closely watched by institutional investors and analysts alike.
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