Analyst Derek Archila from Wells Fargo reiterated a Buy rating on Nurix Therapeutics and keeping the price target at $25.00.
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Derek Archila has given his Buy rating due to a combination of factors that suggest potential upside for Nurix Therapeutics. One of the key elements is the anticipated regulatory clarity for bexdeg in chronic lymphocytic leukemia (CLL) expected post-Labor Day, which could positively impact the stock. Additionally, the potential read-through from KYMR’s KT-621 Phase 1b results in atopic dermatitis in the latter half of 2025 could serve as a catalyst for the company’s shares.
Furthermore, the management’s strategic interactions with the FDA regarding the design of the confirmatory CLL trial and dose selection are expected to provide a favorable outcome. The company’s financial position, with a runway extending into the first half of 2027, and the possibility of securing non-dilutive capital through partnerships, also contribute to the positive outlook. Despite the current capital overhang and the stock’s underperformance year-to-date, Archila remains optimistic about the long-term prospects of Nurix Therapeutics, viewing the shares as undervalued and offering an attractive entry point for investors.
Archila covers the Healthcare sector, focusing on stocks such as Exelixis, Apellis Pharmaceuticals, and Blueprint Medicines. According to TipRanks, Archila has an average return of 12.0% and a 52.09% success rate on recommended stocks.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $27.00 price target.