Nurix Therapeutics (NRIX) Gets a Buy Rating from Needham

Needham analyst Gil Blum reiterated a Buy rating on Nurix Therapeutics (NRIXResearch Report) today and set a price target of $48.00. The company’s shares closed last Tuesday at $28.84.

According to TipRanks.com, Blum has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -25.0% and a 16.4% success rate. Blum covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Crispr Therapeutics AG, and Rocket Pharmaceuticals.

Nurix Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $55.17, representing an 83.7% upside. In a report issued on December 29, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $62.00 price target.

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Nurix Therapeutics’ market cap is currently $1.29B and has a P/E ratio of -12.05.

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Nurix Therapeutics Inc is a biopharmaceutical company focused on the discovery, development and commercialization of oral, small molecule therapies designed to modulate cellular protein levels as a novel treatment approach for cancer and immune disorders. The company’s pipeline comprises targeted protein degraders of Brutons tyrosine kinase, or BTK, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene-B, or CBL-B, an E3 ligase that regulates T cell activation. Its drug candidate from protein degradation portfolio, NX-2127, is an orally available BTK degrader for the treatment of relapsed or refractory B-cell malignancies. Its drug candidate from E3 ligase inhibitor portfolio, NX-1607, is an orally available CBL-B inhibitor for immuno-oncology indications.

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