Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Nurix Therapeutics, reducing the price target to $34.00.
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Robert Burns has given his Buy rating due to a combination of factors, including Nurix Therapeutics’ recent financial performance and future potential. The company reported a net loss that was narrower than expected, alongside higher-than-anticipated collaboration and license revenue. Additionally, Nurix’s strong cash position is expected to sustain operations into the first half of 2027, providing a stable financial runway.
Burns also highlights upcoming clinical milestones as key drivers for the Buy rating. These include pivotal trials for NX-5948 and potential filings for autoimmune cytopenias, as well as clinical updates for NX-2127 and NX-1607. The valuation of Nurix is based on a discounted cash flow model, which supports a price target of $34 per share. However, risks such as negative clinical outcomes and approval delays are acknowledged as potential challenges.
Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, Exelixis, and Zymeworks. According to TipRanks, Burns has an average return of -13.5% and a 34.33% success rate on recommended stocks.
In another report released today, Truist Financial also reiterated a Buy rating on the stock with a $36.00 price target.