H.C. Wainwright analyst Robert Burns reiterated a Buy rating on Nurix Therapeutics (NRIX – Research Report) today and set a price target of $36.00.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Robert Burns has given his Buy rating due to a combination of factors, including a recent licensing agreement with Sanofi, which has chosen to license an undisclosed Nurix program targeting a transcription factor for autoimmune diseases. This agreement not only provides Nurix with a $15 million license extension fee but also underscores the potential of Nurix’s proprietary DEL-AI drug discovery platform in developing novel agents.
Additionally, Burns anticipates significant clinical data catalysts in 2025, including updates for NX-5948, NX-2127, and NX-1607, which could further enhance the company’s valuation. His valuation approach employs a discounted cash flow methodology, resulting in a 12-month price objective of $36 per share, supported by the potential approval probabilities of key pipeline candidates. However, he acknowledges risks such as negative clinical outcomes, approval delays, and market uptake challenges, which are crucial considerations for investors.