Needham analyst Gil Blum has maintained their bullish stance on NRIX stock, giving a Buy rating on October 16.
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Gil Blum’s rating is based on the promising initial clinical results of Nurix Therapeutics’ lead immuno-oncology agent, NX-1607, which were presented at the ESMO conference. The study involved 82 patients with advanced solid tumors, many of whom had undergone multiple prior treatments. The results showed a disease control rate of 49% among 71 evaluable patients, with one patient achieving a partial response and remaining on therapy for 27 months.
Additionally, NX-1607 demonstrated dose-dependent reductions in PSA levels in patients with metastatic castration-resistant prostate cancer, with 46% of these patients experiencing significant reductions. Importantly, no dose-limiting toxicities were observed at clinically active doses, and the treatment exhibited manageable side effects, primarily mild nausea and vomiting. The agent’s ability to activate the peripheral immune system, similar to other immuno-oncology therapies, suggests its potential for further development and combination with other treatments. These factors contribute to the Buy rating and a price target of $27.
In another report released on October 16, Truist Financial also reiterated a Buy rating on the stock with a $36.00 price target.