In a report released yesterday, Jeet Mukherjee from BTIG maintained a Buy rating on Nurix Therapeutics, with a price target of $35.00.
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Jeet Mukherjee has given his Buy rating due to a combination of factors that highlight Nurix Therapeutics’ promising developments and strategic advancements. The company is gearing up for pivotal study starts for bexobrutideg in the second half of 2025, with management working closely with the FDA to finalize the trial design and dose. This is supported by encouraging data from earlier studies, suggesting potential durability and efficacy in treating CLL patients.
Additionally, Nurix’s collaboration with SNY on the STAT6 degrader program and the anticipated clinical entry of the IRAK4 degrader this year further bolster the company’s prospects. The STAT6 degrader, in particular, shows best-in-class potential, which has been validated by SNY’s decision to opt into the program. Furthermore, updates on other promising programs like NX-2127 and NX-1607 are expected, indicating a robust pipeline that could drive future growth. These strategic initiatives and clinical advancements underpin Mukherjee’s optimistic outlook on Nurix Therapeutics.
In another report released today, Needham also maintained a Buy rating on the stock with a $27.00 price target.
NRIX’s price has also changed moderately for the past six months – from $19.510 to $13.180, which is a -32.44% drop .