Nurix Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Robert Burns from H.C. Wainwright reiterated a Buy rating on the stock and has a $33.00 price target.
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Robert Burns has given his Buy rating due to a combination of factors including Nurix Therapeutics’ financial position and upcoming clinical milestones. Despite reporting a larger net loss than anticipated for the third quarter of 2025, the company maintains a strong cash reserve of approximately $428.8 million, which is expected to sustain operations into the first half of 2027. This financial stability supports the Buy rating, even as the price target is slightly adjusted to $33.
Additionally, the potential for significant clinical developments serves as a catalyst for the positive outlook. The initiation of pivotal trials for bexobrutideg in chronic lymphocytic leukemia and the anticipated filing of an investigational new drug application for autoimmune cytopenias are expected to occur in the near future. Furthermore, updates on other key pipeline candidates, such as NX-2127 and NX-1607, are anticipated, contributing to the optimistic valuation. The valuation, based on a discounted cash flow model, reflects a firm value of approximately $2.8 billion, supporting the Buy recommendation despite inherent risks in clinical and market uptake outcomes.
In another report released on October 10, Oppenheimer also reiterated a Buy rating on the stock with a $28.00 price target.