Analyst Terence Flynn of Morgan Stanley maintained a Hold rating on Nurix Therapeutics (NRIX – Research Report), retaining the price target of $17.00.
Terence Flynn has given his Hold rating due to a combination of factors related to Nurix Therapeutics’ current and future prospects. The company is making steady progress in its pipeline, particularly with NX-5948, which is a key driver for the stock. While the drug has shown promising results in early trials, including a high overall response rate in certain patient groups, the path to market involves several steps and uncertainties, such as the need for further clinical trials and regulatory approvals.
Moreover, while Nurix has other promising candidates like NX-2127 and NX-1607 in its portfolio, these are still in early stages of development with updates expected in the coming years. The company’s partnerships and early pipeline developments, such as those with Gilead and Sanofi, are positive but also add layers of complexity and risk. Given these factors, Flynn maintains a cautious outlook, reflected in the Hold rating, as the company navigates through its development milestones and potential market opportunities.
In another report released on April 9, Leerink Partners also reiterated a Hold rating on the stock with a $16.00 price target.