H.C. Wainwright analyst Robert Burns has reiterated their bullish stance on NRIX stock, giving a Buy rating today.
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Robert Burns has given his Buy rating due to a combination of factors that highlight the potential of Nurix Therapeutics. The recent presentation at the ESMO meeting showcased promising Phase 1a results for NX-1607, a small-molecule CBL-B inhibitor, which demonstrated dose-dependent pharmacokinetics and an encouraging disease control rate. Despite a modest response rate with NX-1607 monotherapy, its favorable safety profile suggests potential when used in combination with other treatments, such as anti-PD1/L1 or chemotherapy.
Additionally, upcoming clinical data catalysts, including pivotal trials for bexobrutideg and updates on NX-2127, provide further optimism for the company’s pipeline. The valuation of Nurix is supported by a discounted cash flow analysis, which projects a firm value of approximately $2.8 billion and a 12-month price target of $33 per share. However, risks remain, including potential setbacks in clinical trials and market uptake challenges, which investors should consider.
In another report released today, Needham also maintained a Buy rating on the stock with a $27.00 price target.