Needham analyst Gil Blum has maintained their bullish stance on NRIX stock, giving a Buy rating on April 14.
Gil Blum has given his Buy rating due to a combination of factors that highlight Nurix Therapeutics’ innovative capabilities and promising preclinical data. The company’s DEL-AI discovery platform, showcased at the AACR meeting, utilizes a machine learning model trained on their DEL library data to conduct in silico experiments. This platform has demonstrated the ability to identify novel binders for a variety of targets, achieving results comparable to experimental testing and predicting binders not present in the training set.
Additionally, Nurix’s presentation on their BRAF degrader, NRX-0305, showed its effectiveness in targeting multiple mutation classes and its potential for central nervous system penetration. The compound also exhibited synergistic effects when used in combination with other treatments. These advancements underscore Nurix’s potential to develop groundbreaking therapies, justifying the Buy rating and the $27 target price set by Gil Blum.
In another report released on April 14, Truist Financial also reiterated a Buy rating on the stock with a $36.00 price target.