Nurix Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Gil Blum from Needham maintained a Buy rating on the stock and has a $26.00 price target.
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Gil Blum has given his Buy rating due to a combination of factors, including steady progress of Nurix’s lead asset bexobrutideg (bexodeg) in chronic lymphocytic leukemia, where the pivotal DAYBreak CLL-201 trial in third-line relapsed/refractory patients is enrolling on schedule and a confirmatory study is expected to start around mid-2026. He also highlights the potential value from Sanofi’s STAT6 degrader program, NX-3911, where completion of IND-enabling work or the launch of a Phase I study by year-end 2026 could trigger milestone payments that would benefit Nurix’s financial profile.
In addition, Blum points to anticipated Phase I data updates for bexodeg, including combination use in earlier CLL settings at major medical meetings such as EHA, which could further validate the drug’s clinical potential and expand its addressable market. He notes that Nurix is also advancing a new tablet formulation of bexodeg through SAD/MAD studies in healthy volunteers to underpin expansion into immunology and inflammation indications, and that the company’s cash position of approximately $541M at the end of 1Q25 provides a solid runway to execute on these catalysts.
In another report released on April 2, Wells Fargo also maintained a Buy rating on the stock with a $29.00 price target.